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CORRECTED - UPDATE 1-Lafarge Q3 slumps, sees H2 2010 recovery

Fri Nov 6, 2009 1:04pm IST
 
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(Corrects figures in second bullet point to millions)

* Revenue 4.252 bln euro vs consensus 4.623 bln

* Current opg profit 852 mln vs consensus 856.17 mln

* Says 2009 cement volumes to drop 6 to 8 pct

* Recovery expected in second half 2010

By Leila Abboud

PARIS, Nov 6 (Reuters) -The world's biggest cement maker Lafarge SA (LAFP.PA: Quote, Profile, Research) was hit hard by the global recession in the third quarter as sales and profits slumped but it said the recovery would come to developed markets by the second half of 2010.

Lafarge's third quarter revenue declined 20 percent to 4.252 billion euros ($6.31 billion), while analysts polled by Reuters expected 4.623 billion euros.

Lafarge's current operating profit declined 28 percent to 852 million euro in the third quarter, compared with a consensus of 856.17 million euro.  Continued...

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