Source AP ©

Third-quarter net profit of Holcim Ltd jumps up

Third-quarter net profit of cement maker Holcim Ltd. went up 28 percent, benefiting from an expansion into India and solid demand in other emerging markets.

Net profit rose to 877 million Swiss francs (US$763.4 million; 524.8 million EUR), from 684 million francs in the same three-month period last year.

The profit bettered analyst expectations of around 850 million francs (US$739.9 million; 508.6 million EUR), according to Dow Jones Newswires.

Operating profit rose 15 percent to 1.54 billion francs (US$1.34 billion; 920 million EUR), Holcim said. Sales rose 10 percent to 7.28 billion francs (US$6.34 billion; 4.36 billion EUR).

Shares fell 1 percent to close at 128.30 francs (US$113.21; 76.90 EUR) in Zurich trading. They have risen 16 percent already this year.

Last month, Holcim's rival Cemex SAB of Mexico reported a 7 percent fall in third-quarter net profit to US$780 million. France-based cement company Lafarge SA is due to release third-quarter results Thursday.

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