Saint-Gobain says flat glass weakens first half
PARIS, June 7
PARIS, June 7 (Reuters) - French building materials group Saint-Gobain expects to post weaker first-half results but remains on track to meet its 2012 targets, Chief Executive Pierre-Andre de Chalendar said on Thursday.
Speaking at the company's annual shareholders' meeting, Chalendar said results in the first half of 2012 would suffer from a weaker performance by its flat glass business and a difficult comparison with the first six months of 2011.
He confirmed Saint-Gobain continues to target moderate organic growth as well as resilient operating income and profitability in 2012.
Saint-Gobain still plans an eventual spin-off of Verallia, its glass packaging unit that makes Nutella jars and Dom Perignon bottles, when market conditions permit, Chalendar added. (Reporting by Elena Berton; Editing by David Holmes)
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