France's Lafarge (LAFP.PA) reported slightly lower-than-expected 2010 net profit and predicted stronger cement demand in its markets this year thanks to fast economic growth in emerging countries.
The world's largest cement producer forecast on Friday a rise of between 3 and 6 percent in demand for cement in its markets in 2011. For 2010, It had targeted a range between a decline of 1 percent and a rise of 3 percent in 2010.
The indebted group halved its dividend, proposing to pay 1 euro per share for 2010 compared with 2 euros in 2009.
Lafarge, which competes with Holcim (HOLN.VX) of Switzerland and Cemex (CX.N) (CMXCPO.MX) of Mexico, said net profit rose 12 percent to 827 million euros ($1.12 billion).
Operating income decreased by 1 percent to 2.44 billion euros while sales rose 2 percent to 16.17 billion.
Analysts polled by Reuters were expecting net profit of 849 million euros, operating income of 2.38 billion and sales of 16.14 billion. ($1=.7366 Euro) (Reporting by Matthias Blamont)
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