Lafarge plans more cost cuts

City A.M. Reporter
FRENCH cement-maker Lafarge has set a new target to boost core earnings by at least €1.1bn (£924m) over 2015 and 2016 partly through additional cost cuts of €600m.

The group, which is trying to cut debts built up from an acquisition spree, also confirmed debt reduction targets for this year and next as it reported four per cent like-for-like growth in third-quarter sales and core profit. Lafarge posted third-quarter earnings before interest, tax, depreciation and amortisation of €1.01bn on sales of €4.24bn.