Lafarge Egypt H1/12 Sales Hit EGP 3.5 Bln

Lafarge Cement Egypt has posted total sales of EGP 3.5 billion by the end of the first half of 2012. The company targets posting sales of EGP 4.5 billion by the second half of this year. It also plans to achieve sales of EGP 5 billion within 2013.

Samy Ahmed Abdelkader, Chief Executive Officer and Director of Lafarge Cement, forecasted that the company to witness a fall-off in its sales by the second half of this year compared to its H1/2012 results.

Abdelkader noted that experts see that the second half will witness less unlicensed random construction activity which had boomed during 2011 seizing 45% of the total demand for cement.

He also mentioned that Lafarge was considering the establishment of cement plants in Libya where it witnesses a growing demand for cement. Yet, research indicators recommended to wait before injecting any future investments in Libya due to instability. Abdelkader ruled out resorting to export its products to Libya as it would push up costs.

A research study conducted by Lafarge research center has revealed that the global demand for cement reached 3.5 billion tons in 2011 and it is expected to reach 3.7 billion tons within this year. China seizes around 58% of the total global demand for cement, while Egypt seizes 0.1% only as it amounts to 50 million tons a year.