StockMarketWire.com - Compagnie de Saint-Gobain's first quarter sales were stable and in line with its expectations at €9,859m - 1.2% down on a like-for-like basis against a high-volume comparison.

Changes in group structure had a negative 3.2% impact, essentially reflecting the disposal of Verallia North America (VNA).

The fall in the value of the euro against certain currencies - particularly the US dollar and sterling - resulted in a significant 4.2% positive currency impact.

Volumes were down 1.5% on first-quarter 2014, which had been boosted by particularly mild winter weather in Europe.

Chairman and chief executive Pierre-André de Chalendar said: "Our figures for the first quarter are in line with our forecasts, given the tough basis for comparison.

"Over the rest of the year, we expect to see a gradual improvement, particularly in Germany and in Roofing in the US.

"Construction markets in France will remain challenging in 2015. In this setting and thanks to our ongoing cost cutting program, we can confirm our objective of a further like-for-like improvement in operating income."






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