Hanson sees stable '05 underlying demand in the US, UK

Published: Dec 15, 2004 2:21 a.m. ET

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HONG KONG (CBS.MW) -- U.K. building materials company Hanson uk:hns said it expects pretax profit in line with expectations, with currency movements reducing profit by 14 million pounds. It said it had increased operating profit and margins in North America compared to the second half of 2003, based on savings and higher prices. It has spent 85 million pounds this in acquisitions, saying: "Growth through bolt-on acquisitions remains a strategic priority." Hanson expects the net cost of asbestos claims in the U.S. after insurance to be $13 million. It sees "stable underlying demand" in the U.S., U.K. and Australia with price increases expected to cover input cost increases.

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