LafargeHolcim expects construction recovery to continue

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LafargeHolcim raises guidance after third-quarter profit beat

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gave an upbeat assessment about the construction industry on Friday, upping its full-year guidance and saying the COVID-19 recovery was well under way.

The world’s biggest cement maker said it was seeing demand for its products rebound, particularly in South America and India, and was looking forward to the launch of government stimulus packages it expects to kick in early next year. The Swiss company beat expectations for profit and sales during the three months to the end of September, with recurring operating profit rising 1.9% to 1.45 billion Swiss francs .

On a like-for-like basis its sales decline narrowed to 2.6% from the 17% drop in the second quarter, when demand was battered by COVID-19 shutdowns at building sites.

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