Cemex announced today that consolidated net sales increased 31% in the third quarter of 2007 to $6.1bn (£3bn approx) compared with the same period in 2006.
Higher sales in the quarter were primarily attributable to the Rinker acquisition, say the company, but also reflected increased cement and aggregates volumes (consolidated cement volume increased 3%, ready-mix volume increased 22%, and aggregates volume increased 62% in the quarter) as well as better supply-demand dynamics.
UK operations experienced a 10% increase in net sales compared with the same quarter in 2006, rising to $550m (£268m approx).
Executive vice president of planning and finance Hector Medina said: “Cemex delivered solid growth in net sales and operating income in the third quarter. Despite the ongoing slowdown in the residential sector in the United States, we continue to increase sales and improve efficiency across our operations. The addition of Rinker’s operations in the quarter further solidifies our position in the building materials industry.