Saint-Gobain Announced Results for First Nine Months
Saint-Gobain reports sales up 5.4% to € 31.6 billion in the first nine months of the financial year. Despite a tougher economic outlook, the group confirms that for the full financial year in 2011, it is looking for robust organic growth and double-digit growth in operating income (at constant exchange rates) despite the rise in raw material and energy costs.
Overall Asia and other emerging markets put in an impressive growth performance with a 10.4% growth over the nine months and 7.2% in the third quarter. This is compared to 4.7% for western Europe over the nine months and 6.2% for North America. In the third quarter North America’s severe weather produced a boost in sales of construction products and sales overall rose by 11% as a result.
Innovative materials business sector continued to grow by 7.3% in the reporting period with emerging countries and markets related to industry output performing well. In the construction sector trading remained bullish in Asia and emerging countries but more uneven in Western Europe.