PARIS, July 24 (Reuters) - French building materials giant Saint-Gobain <SGOB.PA> on Thursday trimmed its profit forecast after slower building activity in Europe pushed its half-year recurring operating profit 4.2 percent lower.
Saint-Gobain said it expected full-year recurring operating income and adjusted net profit 'close to' 2007 levels.
The world's biggest building materials group had previously forecast 'modest' growth in 2008 profits.
Saint-Gobain made a recurring operating profit of 2.005 billion euros ($3.14 billion) in the first half, down from 2.093 billion euros in the first half of 2007, while adjusted net profit rose to 1.101 billion euros from 1.067 billion last year.
Seven analysts polled by Reuters had expected on average recurring operating profit of 1.969 billion euros and adjusted net profit of 1.003 billion euros.
(Reporting by Marie Maitre) ($1=.6382 Euro) Keywords: SAINTGOBAIN/ tf.TFN-Europe_newsdesk@thomsonreuters.com cmr COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Saint-Gobain said it expected full-year recurring operating income and adjusted net profit 'close to' 2007 levels.
The world's biggest building materials group had previously forecast 'modest' growth in 2008 profits.
Saint-Gobain made a recurring operating profit of 2.005 billion euros ($3.14 billion) in the first half, down from 2.093 billion euros in the first half of 2007, while adjusted net profit rose to 1.101 billion euros from 1.067 billion last year.
Seven analysts polled by Reuters had expected on average recurring operating profit of 1.969 billion euros and adjusted net profit of 1.003 billion euros.
(Reporting by Marie Maitre) ($1=.6382 Euro) Keywords: SAINTGOBAIN/ tf.TFN-Europe_newsdesk@thomsonreuters.com cmr COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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