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Construction group St Gobain first quarter sales rise 8.8 percent, keeps financial target

Published 26/04/2017, 17:16
Updated 26/04/2017, 17:20
© Reuters.  Construction group St Gobain first quarter sales rise 8.8 percent, keeps financial target

PARIS (Reuters) - French construction materials group Saint Gobain (PA:SGOB) reported an 8.8 percent rise in first-quarter sales from a year ago and maintained its target for higher operating profits this year on a like-for-like basis.

St Gobain, which is looking to buy a controlling stake in Swiss construction chemicals maker Sika (S:SIK), said first-quarter sales rose to 9.937 billion euros (8.31 billion pounds), led by higher turnover in north America, Asia and western Europe.

According to a consensus compiled for Reuters by Inquiry Financial, the mean forecast for first-quarter sales stood at 9.895 billion euros.

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