March 1 (SeeNews) - The Croatian unit of building materials producer LafargeHolcim said on Wednesday it booked a 7% yearly growth in revenues in 2016, on the back of rising exports.
Holcim Croatia also reduced its expenditures, while keeping cash flow high, the company said in a statement.
The company achieved positive results despite continued pressure to lower its domestic prices, Denis Zupicic, the financial director of Holcim Croatia, said in the statement.
"Unfortunately, on the domestic market there is still a constant pressure to reduce prices, so all the effort we've invested as a team could actually have had a much better effect", Zupicic explained.
He added that if prices were to drop, the industry would not be sustainable.
"Every employee wants to be fairly paid for their work, including those in manufacturing, those in construction, as well as those in services, so it is time for everyone in the civil engineering business to start thinking sustainably and building deals based on real prices", Zupicic said.
Holcim Croatia is part of the LafargeHolcim Group, established in July 2015 following the merger of two construction material industries, Lafarge and Holcim.