European earnings disappoint
Tuesday March 16, 2010, 5:54 pm It was a gloomy morning in Paris as two of France’s most prestitigous names reported a slump in profits below expectations. Cement-maker Lafarge, the worlds biggest cement maker, said Friday its 2009 net profit slumped 54% to €736m, well short of estimates of €942m. Meanwhile French supermarket group Carrefour suffered a 74% slump in net profits on the back of huge restructuring charges.Net profits came to €327m after charges totalling €1.07 billion euros, mainly stemming from the Italian business.Analysts expected a 10 percent fall in 2009 net profit to €1.14bnAIR publishes a weekly magazine. Subscriptions are free at www.aireview.com.auMore Quotes and Company Information:I.T.& E LIMITED (ASX: ITE.ax)
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Tue 16th March 2010 - 05:54pm
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