Holcim NZ turns to full-year loss as changed business model drives up distribution costs

Wed, 28 Jun 2017

By Jonathan Underhill June 28 (BusinessDesk) - Holcim New Zealand, the local unit of the world's biggest cement maker, posted a full-year loss after it changed its business away from manufacturing and into importing and distribution, incurring higher distribution costs. The local holding company, Fernhoff, reported a loss of $12.3 million for calendar 2016 from a profit of $80 million in the previous year when it recorded other income of $92 million, largely reflecting a gain from the sale of its lime interests to Canada's Graymont. Sales...

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