Lafarge 2011 Net Profit Declines 28%

Lafarge SA LFRGY reported a 28% drop in its 2011 net profit. Lafarge's net profit for the period fell to 593 million euros ($773.39 million). Its sales gained 3% to 15.28 billion. Analysts were expecting a net profit of 688.47 million on sales of 15.17 billion. In the three months to December 2011, Lafarge's sales climbed 5% to 3.8 billion. Lafarge shares closed at $10.58 yesterday.