Thursday June 29, 12:45 PM
Hanson predicts 10% profit rise
LONDON (ShareCast) - Building materials group Hanson (LSE: HNS.L - news) expects to report a 10% rise in operating profit for the first half
of 2006 from the year before after a stellar performance at its US division.
Chief Executive Alan Murray said, "The first half performance of both North American divisions has been excellent, and our UK Aggregates, Australian and Continental European operations have performed well."
Booming business at its US unit "more than offset difficult market conditions for our UK Building Products division, Hanson said.
"Overall, we look forward to further progress in the second half of this year," it added.
Hanson Aggregates North America is expected to generate margin improvement and a significant increase in operating profit in excess of 25% for the first half of 2006.
Meanwhile operating profit in its UK division, excluding acquisitions, is expected to be slightly below the strong first half of last year.
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