French construction-materials producer Saint-Gobain SA (SGO.FR) on Thursday posted a 5.6% increase in third-quarter sales, bolstered by growth in all of its divisions, and backed guidance for the year.
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Sales for the three months ended Sept. 30 were 10.16 billion euros ($11.89 billion), up from EUR9.76 billion in the same period last year, with the company's flat glass and high-performance materials divisions both performing well.
Like-for-like sales in France were EUR2.48 billion, up 3.4%, which the company attributed to good momentum in new-builds and improvement in renovation activity. Sales were also up in Asia and emerging markets, with 11% growth in sales over the quarter.
Saint-Gobain confirmed it was on track to meet its full-year objective of a like-for-like increase in operating income. It also expects the like-for-like increase in the second half to exceed the first half of the year, despite continuing inflationary pressure on costs.
"We continued to see a good price effect against a tougher basis for comparison, but not yet sufficient in all of the Group's businesses given the more inflationary raw material and energy cost environment," said Pierre-Andre de Chalendar, Saint-Gobain's chairman and chief executive.
The Paris-based company has expanded its reach in recent months, with takeovers of Argentinian waterproofing systems maker Megaflex and Norwegian insulation manufacturer Glava in October this year.
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Deutsche Boerse AG (DB1.XE) on Thursday posted an increase in third-quarter profit, but said it was unlikely to meet its guidance for 2017.
The German stock exchange operator reported a net profit of 204.3 million euros ($238.7 million), up from EUR170 million the same period a year earlier.
Net revenue rose to EUR576 million from EUR558.5 million a year ago.
Deutsche Boerse said it was unlikely to meet its earnings guidance for the full year. In March, it targeted a 10% to 15% rise in net profit. In July, the company said it considered it possible to achieve the lower end of that forecast.
The company still expects to meet the 10%-to-15% earnings growth target in 2018 and 2019, it said.
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(END) Dow Jones Newswires
October 26, 2017 13:48 ET (17:48 GMT)