June 7, 2012 / 2:28 PM / in 5 years

Saint-Gobain says flat glass weakens first half

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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