Saint-Gobain Q1 Sales Drop

(RTTNews) - French building materials company Saint-Gobain (CODGF.PK) on Wednesday reported first-quarter revenues of 9.14 billion euros, down 1.9 percent from 9.31 billion euros last year.

"Volumes improved in all regions in the first quarter. Trading in France advanced with the exception of Pipe. Other Western European countries reported further growth. Trading in North America bounced back despite lackluster industrial markets. Emerging markets continued to perform well. Prices dipped slightly as expected, particularly in Western Europe and the US. In this setting, we are continuing to pursue our operational excellence program and confirm our objective of a further like-for-like improvement in operating income."

The company said like-for-like sales rose 1.8 percent driven largely by improved volumes in all business sectors and regions, despite the slight dip in prices.