Deutsche Boerse Profit Rises in Third Quarter

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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.

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.

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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.

Write to Euan Conley at

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.

Write to Euan Conley at;

(END) Dow Jones Newswires

October 26, 2017 13:48 ET (17:48 GMT)