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Markets News

HeidelbergCement posts higher Q3 profits on cost cuts

FRANKFURT, Nov 5 (Reuters) - HeidelbergCement, the world’s No.2 cement maker, on Thursday posted a 13% increase in third-quarter core profit, as cost cuts helped it to shrug off the impact of the coronavirus pandemic and forecast higher earnings for 2020.

“HeidelbergCement is very well positioned, even for difficult times,” Chief Executive Dominik von Achten said.

Third-quarter results from current operations before depreciation and amortisation (RCOBD) came in at 1.33 billion euros ($1.56 billion) and the company now also expects RCOBD to be up for the full year. ($1 = 0.8519 euros) (Reporting by Christoph Steitz Editing by Michelle Adair)

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