July 30, 2020 / 4:47 PM / 14 days ago

Construction group St Gobain H1 profits fall but hopes for better H2

PARIS, July 30 (Reuters) - French construction materials group St Gobain reported lower first-half profits on Thursday, although the company hoped for a better second-half performance, echoing comments from rivals LafargeHolcim and HeidelbergCement.

First-half operating profits fell 49.5% from last year to 827 million euros ($976 million). Sales slid 18.1% as the global construction industry has been hit by the COVID-19 pandemic, which has closed down building sites, but St Gobain said it had seen signs of a pick-up in June.

“In a macroeconomic and health environment which remains affected by uncertainties, our earnings growth in June and outlook for the third quarter suggest that our operating income for the second-half of 2020 will improve significantly on the first-half of 2020,” said St Gobain chairman and CEO Pierre-André de Chalendar. ($1 = 0.8475 euros) (Reporting by Sudip Kar-Gupta; Editing by Hugh Lawson)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below