Saint-Gobain profits grow, outlook is challenging
Published: 23-Feb-2012
Conditions in the building products business are likely to remain challenging in southern Europe and the UK, Saint-Gobain says in its annual results.
The global building distribution and construction product manufacturing business reported 4.1% like-for-like sales growth in 2011, bolstered by ?vigorous? economic conditions in Germany and Scandinavia (52.1% of the group?s sales in the region).
Trading in the UK was described as subdued during the year. Saint-Gobain operates the Jewson, International Timber, IDS, Pasquill, Gibbs & Dandy, JP Corry, Calders and Grandidge, PDM, Kantor Ltd and Tyneside Timber businesses.
The building distribution division saw operating profits grow by 33% to ?768m.
Group-wide operating profits grew 13.7% to ?1.2bn from sales of ?42.1bn.
Source: http://www.worldconstructionnetwork.com/news/saintgobain_profits_grow_outlook_is_challenging_120223/
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