Lafarge Malaysia reports loss in third quarter

Bya897204973

Updated Fri, 21 Nov 2014 14:56:12 GMT

Lafarge Malaysia reported a 54% y/y drop in 3Q14 net profit at RM54.81 million. Revenue also fell from RM728.01 million to RM664.63 million, a decline of almost 9%. The company attributed the decline in performance to higher operating costs, in part related to the increase electricity tariff and the removal of the fuel subsidy.

For the nine months to the end of September, Lafarge Malaysia reported a decline in net profit from RM255.97 million to RM206.06 million. The company blamed increased competition for the decline in revenue.

Lafarge and Holcim plan to merge their operations in Malaysia as part of their global merger next year. Between them, the two companies have a 44% market share, though the majority of this belongs to Lafarge Malaysia.