StockMarketWire.com - Compagnie de Saint-Gobain reports continued good organic growth in the first nine months.

The group saw further volume growth in Q3 (+1.6%) in all business sectors and all regions despite the slight negative impact of fewer working days (as opposed to a positive calendar impact in H1); volumes +2.8% over nine months

Sales for the first nine months totalled €29,306 million compared with €29,826 million a year ago.

The negative 1.1% group structure effect reflects the impact of disposals carried out in 2015 aimed at optimising the Building Distribution portfolio.

The negative 3.2% currency impact results primarily from decreases in the currencies of Latin American countries and sterling against the euro. The negative currency impact narrowed to 2.6% in the third quarter, due mainly to gains in the Brazilian real.

On a like-for-like basis, sales were up 2.6% over nine months and 2.1% in the three months to 30 September. The third quarter confirmed the improvement in volumes which rose by 1.6%, and by 2.8% over the nine-month period, buoyed partly by the positive impact of more working days in the second quarter.

Prices edged up 0.5% in the third quarter, levelling off in Western Europe but remaining slightly down in the US, albeit in a less deflationary environment.

Chairman and chief executive Pierre-André de Chalendar said: ""The third quarter confirmed the upturn in volumes in Western Europe. France benefited from the steady improvement in new-builds; the UK showed no sign of weakness. Volumes continued to grow in US construction despite the lack of positive weather impacts for Roofing in the quarter.

"Our businesses in Asia and emerging countries remained strong, delivering further robust growth. The price effect moved back into positive territory over the quarter, reflecting Saint-Gobain's strong positioning on its markets.

In line with the 2016 goals, these results allow the Group to confirm its objective of like-for-like growth in operating income in the second half versus second-half 2015."








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