PARIS (Thomson Financial) - Saint-Gobain reported a 7.2 pct rise in first-quarter sales, citing strong growth in Western Europe and emerging markets, which offset a decline in North America under the impact of a slowdown in residential housing.
Total sales came to 10.447 bln eur.
This beat forecasts of 10.067 bln eur from CA Cheuvreux and 10.056 bln from Exane BNP Paribas.
At constant currencies, Saint-Gobain said sales grew 9.0 pct while on an orgnaic basis they were 8.0 pct higher.
'The first three months of the year have confirmed the trend observed in second-half 2006 and the scenario envisaged at the end of January for 2007, namely a strong trading environment in Europe, which is more than offsetting the housing slowdown in the United States,' the company stated.
It repeated its full-year guidance for a 'robust increase' in operating income at constant exchange rates, and double-digit growth in net income, excluding capital gains and losses.
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