COURBEVOIE (dpa-AFX) - French building materials company Compagnie de Saint-Gobain SA (CODGF.PK) said Thursday that its first quarter sales decreased 4.8% to €9.674 billion from €10.162 billion in the year-ago quarter.
The company in a statement said the figures reflected, a negative 1.3% currency effect, a weaker British pound and fewer working days to the tune of 2.4 days in the current quarter.
For the current quarter, innovative materials sales fell 7.2% on an actual structural basis to €2.21 billion, while construction products sales slid 2.2% to €2.75 billion and building distribution sales dropped 5.4% to €4.11 billion.
After a tough first quarter hit by by significantly fewer working days than in first-quarter 2012, and by very harsh winter weather in Europe, the Group said it expects trading to 'gradually' improve over the next few quarters, particularly in North America and in Asia and other emerging countries
Against this backdrop, the company expects to record savings to the tune of €1,100 million in 2013, and improve sales prices over the next few quarters.
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