Rick Haythornwaite, Blue Circle's chief executive, said on Monday he is willing to consider offers for the company.

In May the UK's largest cement maker announced an �800m share buy back scheme and revamped its business, as part of its efforts to see off a bid by France's Lafarge Group. The French group still holds 29% of Blue Circle shares.

Blue Circle later entered talks with US cement maker Southdown.

"We made a point in the defence, and we meant it: nothing is sacrosanct," Mr Haythornwaite told reporters. "We don't believe that independence is the only way forward."

He said he was willing to meet Lafarge, if they suggested new talks. "They are a major shareholder," Mr Haythornwaite said.

The firm on Monday posted profits in the first half of the year of �125.8m, excluding one-off costs, beating City expectations and a 14% increase on the previous year.

Asian growth

Growth in cement production in Malaysia, expected at 20% this year, is leading the company's worldwide growth, the firm said.