Lafarge expects recovery in second half of 2010

Building materials group Lafarge expects a recovery in developed markets to be underway in the second half of next year, despite cement volumes falling around 8% this year.

Chief executive Bruno Lafont reported a sharp fall in sales and profits and said the global building materials market had shown signs of stabilisation in the quarter but that a recovery would have to wait till the second half of 2010, especially in mature markets like the United States.