COURBEVOIE (dpa-AFX) - French building materials company Compagnie de Saint-Gobain SA said Wednesday that its first-half 2015 net profit fell 16.8% to €558 million from €671 million, as restated, in the year-ago period.
Recurring profit for the first-half rose 25.2% to €552 million from €441 million a year earlier.
Operating profit for the first-half increased 7.8% year-over-year to €1.3 billion.
First-half sales rose 4.8% to €19.86 billion from €18.95 billion in the same period last year.
On a like-for-like basis, first-half sales edged up 0.5% from a year earlier.
Pierre-André de Chalendar, Chairman and Chief Executive Officer of Saint-Gobain, said, 'After a first quarter marked by a tough basis for comparison, second-quarter sales returned to volume growth, driven by the rebound in North America on the back of an upturn in Roofing and by good momentum in Asia, emerging countries and Western Europe except France and Germany. First-half operating income and our outlook for the rest of the year confirm our objective of a further like-for-like improvement in operating income in 2015 along with continuing high levels of free cash flow.'
Saint-Gobain confirms its objectives and expects a further like-for-like improvement in operating income for 2015 and a continuing high level of free cash flow.
Copyright RTT News/dpa-AFX