Saint-Gobain's 2017 Net Profit Rose on Higher Volumes, Pricing Trends
February 22 2018 - 12:54PM
Dow Jones News
By Sonia Amaral Rohter
Compagnie de Saint-Gobain SA (SGO.FR) said Thursday that its
2017 net profit increased, due in part to higher volumes and
positive trends in pricing.
The French construction materials company reported net profit
for the year of 1.57 billion euros ($1.93 billion) compared with
EUR1.31 billion in 2016. Sales increased 4.4% to EUR40.81
billion.
Operating income for the period was EUR3.03 billion, compared
with EUR2.82 billion in 2016.
Analysts polled by FactSet had expected net profit of about
EUR1.56 billion on sales of EUR40.66 billion.
Fourth-quarter sales were EUR10.24 billion, the company
said.
Sales prices rose significantly, particularly in the second half
of the year, Saint-Gobain said.
"All business sectors and regions contributed to this good set
of results, especially France which confirmed its recovery," said
Pierre-Andre de Chalendar, chief executive of Saint-Gobain.
In 2018, Saint-Gobain said it expects to benefit from a
supportive economic environment and is targeting a further
like-for-like increase in operating income.
The company proposed a 2017 dividend of EUR1.30 a share,
compared with EUR1.26 a share in 2016.
Write to Sonia Amaral Rohter at
sonia.amaralrohter@dowjones.com
(END) Dow Jones Newswires
February 22, 2018 12:39 ET (17:39 GMT)
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