May 8, 2018 / 5:18 AM / 13 days ago

LafargeHolcim reports 13.4 percent fall in core profit

ZURICH, May 8 (Reuters) - LafargeHolcim reported a 13 percent fall in first quarter earnings as the world’s largest cement maker embarks on its new strategy under recently-appointed Chief Executive Jan Jenisch.

The Swiss company said recurring earnings before interest, tax, depreciation and amortisation fell to 700 million Swiss francs ($697.70 million) during the first quarter, down from 808 million Swiss francs a year earlier.

When adjusted for currency effects and the asset sales, the decline was 7.7 percent.

Revenue was flat at 5.83 billion francs, said LafargeHolcim, which changed its reporting practices and no longer publishes net profit for its first quarter. ($1 = 1.0033 Swiss francs) (Reporting by John Revill)

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