Saint-Gobain sales up 2.6%
Saint-Gobain reported that its 2012 sales increased by 2.6% to €43.2 billion ($56.9 billion).
Net income fell by 40.3% to €766 million ($1 billion).
As a result of a general slowdown in economies across Europe and "slacker" growth in Asia and emerging countries, the company cut €520 million ($685 million) in costs.
In France and other Western European countries, like-for-like sales were down 2.5% and 4.3%, respectively, due to the sharp drop in Flat Glass and Pipe sales.
North America posted 2.3% organic growth, with a positive contribution from all business sectors and especially Construction Products, where the gradual upturn in residential construction and positive trends in sales prices boosted trading.
Sales in Asia and emerging countries were down 0.1% on a like-for-like basis, with the downturn in the Group's Asian markets (particularly in Flat Glass and Pipe) countered by upbeat trading in Latin America.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
