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Holcim H1 Profit Surges On Strong Sales; Lifts FY21 Recurring EBIT Growth View

Swiss building material company Holcim AG (HCMLY.PK,HCMLF.PK), formerly known as LafargeHolcim, reported Friday that its first-half net income surged 142.1 percent to 839 million Swiss francs from last year's 347 million francs.

Net income before impairment and divestments was 881 million francs, compared to 501 million francs. Adjusted earnings per share were 1.43 francs, compared to 0.80 francs last year.

Net sales of 12.56 billion francs, up 17.4 percent from last year's 10.69 billion francs. Sales were up 16.6 percent on a like-for-like basis.

Net sales in the second quarter were 7.19 billion francs, 25.5 percent higher LFL than the prior-year period.

Looking ahead, the company raised fiscal 2021 forecast, and now expects recurring EBIT growth of at least 18 percent on like-for-like basis, compared to previous outlook for growth in Recurring EBIT of at least 10 percent, on LFL basis.

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