Saint-Gobain Q1 Sales Marginally Falls

(RTTNews) - French building materials company Saint-Gobain (CODGF.PK) on Tuesday said its first-quarter sales fell 0.2 percent to 9.86 billion euros from 9.87 billion euros a year ago.

On a like-for-like basis, sales for the quarter were down 1.2%, the company said.

Sales for the quarter were hurt mainly by a 33% slump at its Packaging (Verallia) segment, the company said.

Innovative Materials segment sales rose 9.7% from last year, Construction Products gained 2.8%, and Building Distribution fell 1.1%.

Among regions, sales in France fell about 5%, North America slid 13.3%, while Western European countries gained 3%, and Emerging countries and Asia rose 9.63%.

The company noted that business in Western Europe was dampened by the downturn in the French market and a tough basis for comparison, particularly in Germany.

For the full year 2015, Saint-Gobain expects a further like-for-like improvement in operating income and a continuing high level of free cash flow.