March 2, 2018 / 6:28 AM / 4 months ago

LafargeHolcim takes big charge as new CEO launches overhaul

ZURICH, March 2 (Reuters) - LafargeHolcim took a 3.8 billion Swiss franc ($4.04 billion) impairment charge during its fourth quarter as new Chief Executive Jan Jenisch cleared the decks for his overhaul of the world's largest cement maker.

The charge pushed LafargeHolcim, which last year admitted paying armed groups in Syria, into a net loss of 3.12 billion Swiss francs.

Without the charge, net profit fell 31 percent to 270 million francs. Analysts polled by Reuters poll had expected net profit of 604 million francs.

Revenue rose 2.7 percent to 6.7 billion francs, beating estimates of 6.47 billion francs. Under the new five-year plan unveiled by Jenisch, LafargeHolcim aims for annual sales growth of 3 to 5 percent. ($1 = 0.9395 Swiss francs) (Reporting by John Revill; Editing by Michael Shields)

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