St-Gobain Sees Moderate Earnings Growth In 2008

Date: 28 January 2008
Source: Reuters

Date: 28 January 2008

Saint-Gobain predicted "moderate" earnings growth in 2008 due to a possible U.S. recession and tighter credit conditions, after reporting a double-digit rise in 2007 profits that met market expectations.





The world's biggest listed building materials group that insulates one in five American homes said economic conditions were "far more uncertain" in 2008.



"We clearly have important factors of economic uncertainty this year, be it the evolution of the U.S. economy, the length of the U.S. property crisis or the impact of all this on western economies," Chief Executive Pierre Andre de Chalendar told a news conference on Saint-Gobain's full-year results on Thursday.



The weaker dollar and volatile raw material prices were other factors behind Saint-Gobain's cautious tone, leading the French group to forecast "moderate" growth in both operating profit, at constant exchange rates, and recurring net income.



"I have no crystal ball but as an industry leader we have had to make scenarios so we went for a median scenario for 2008," Chalendar said, declining to give more precise forecasts.



Read the entire story on the source link below.


600450 St-Gobain Sees Moderate Earnings Growth In 2008 glassonweb.com

See more news about:

Others also read

Saint-Gobain Glass and Eckersley O’Callaghan unite to drive the market toward low-carbon façades.
With over 50 years of expertise, Unelko’s Invisible Shield PRO 15 is setting new standards in glass protection, earning the trust of major industries and global glass producers.
Maud Thuaudet appointed Group Chief Financial Officer. Sreedhar N. appointed CEO for the Asia-Pacific Region.
New dynamic glass delivers true-to-life views & neutral aesthetics
Maltha Glass Recycling, a leading European recycler and Renewi subsidiary, announces a successful pilot test with Saint-Gobain.
On 12 February 2025, AGC and Saint-Gobain officially inaugurated the Volta production line in the presence of local authorities, stakeholders and representatives of both companies.

Add new comment

From industry