DJ LafargeHolcim 1Q Beats Expectations as Construction Markets Pick Up -- Market Talk
0721 GMT - Once again, Swiss cement maker LafargeHolcim has reported better-than-expected results, with first-quarter revenues up 7.4% on a like-for-like basis at CHF5.36 billion, Citi says. The strong beat was partly driven by good momentum in construction markets world-wide and a particularly solid performance in the Asia Pacific region, Europe and Latin America, the bank says. "LafargeHolcim remains our top pick in the sector as we expect [the group] to deliver strong growth in FY'21, benefiting from recovery in some of its large markets," it says. (olivia.bugault@wsj.com)
(END) Dow Jones Newswires
April 23, 2021 03:22 ET (07:22 GMT)
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