Lafarge posts strong FY profit rise; to exceed EPS, ROCE targets through 2008 |
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Fri, 23 Feb 2007 07:53
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PARIS (AFX) - Lafarge reported a jump in full-year profits, within the range of analyst forecasts, citing positive market trends and the impact of restructuring, and said it expects to exceed its own targets for earnings per share and ROCE through 2008.The company posted full-year net profit of 1.372 bln eur, up 25 pct from the 2005 reported figure of 1.096 bln, while earnings per share reached 7.86 eur, a 23 pct rise on the previous year.Operating profit, excluding Lafarge's roofing unit which is being divested, reached 2.772 bln eur, up 23 pct from 2.246 bln, a restated 2005 figure that also excludes the roofing unit.According to analyst estimates compiled by Thomson Firstcall, the company's net profit was expected in the range of 1.310-1.449 bln eur and operating profit in the 2.735-2.786 bln eur range.Lafarge sees favourable trends continuing in 2007 and said it expects to exceed its targets for a 10 pct annual increase in EPS for 2005-08 and an improvement in ROCE to 10 pct by 2008.The group proposed a full-year dividend of 3.00 eur per share, up 18 pct on 2005, and said it plans a 500 mln eur share buyback in 2007.paris@afxnews.comgt/hjpCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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