ZURICH, Switzerland – Cement maker Holcim Ltd. said Wednesday that its fourth-quarter net profit dropped 5.6%, but full-year profits were helped by the sale of its South African business.

Net profit in the three months to December dropped to CHF565 million, from CHF599 million in the same period last year.

Sales reached CHF6.77 billion, up 4.8% from CHF6.46 billion in 2006.

Holcim said annual earnings reached CHF3.87 billion, boosted by the sale last year of assets in South Africa for about CHF1.26 billion francs.

Shares in Holcim were down 2.25% at CHF108.70 on the Zurich exchange.

[Copyright ap 2008]