HOLCIM LTD.'s consolidated net sales increased by 5.4% to US$3.969 million (first half 2000: US$3.767). Operating profit was up 6.9% to US$601 million, with Group regions Latin America, Africa Middle East, and Asia Pacific making key contributions to this higher result. Group net income after minority interests improved by 12.8% to US$239 million. After peaking in the first six months of 2000, cash flow from operating activities returned to its normal growth path in the first half of 2001. It stood at US$372 million, compared with US$521 million for the year-back period. In contrast with the first half of 2000, currency fluctuations made little mark on the income statement. The positive effects of a firming dollar were almost completely offset by a weaker euro.

CIMENTS FRANÇAIS reports that sales for the first half of 2001 reached US$1,250.5 million, up 8.6% from the first-half 2000 figure of US$1,151.8 million. At US$78 million, consolidated net income for first half 2001 was up 11.1% from the first-half 2000 total of US$70.2 million.

In the first nine months of 2001, CIMENTS FRANÇAIS reported consolidated sales improved 7.7% over the prior year to U.S.$1,901.3 million. Consolidated net income for the period was U.S.$136.4 million, up 6.1% compared to the same period in 2000. There was a slackening in activity in North America during the third quarter, but business stayed strong for the company's operations in the Mediterranean area and in emerging markets, with the exception of Turkey. Progress in France and Belgium also was reported. During this period, the company also took a 25% share in the capital of the Suez Cement Co., the leading Egyptian producer, becoming its principal shareholder and strategic partner (see related story in “World News,” page 12.)

LAFARGE NORTH AMERICA'S cement operations saw operating profit decline 2% to US$130.0 million from US$132.8 million in the third quarter of 2000. The impact of the decline in the Canadian dollar was US$2.4 million in the quarter. Cement shipments, altogether lower in September, totaled 4.7 million tons, 2% better than the third quarter of 2000. Volumes in the U.S. were 2% higher than the comparable period last year while cement shipments from Canadian operations were up 1%. Revenue for the cement segment in the most recent three-month period reached US$397.0 million, a 1.7% decline from last year.

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