Compagnie de Saint-Gobain SA - Paris-headquartered construction materials manufacturer - Says it expects sales for the fourth quarter of 2020 to outperform previous forecasts, coming in at around EUR10.2 billion.
Adds its expects operating income for the second half of 2020 to exceed EUR2.00 billion, representing like-for-like growth of more than 20% compared to the second half of 2019.
"The second-half results were buoyed by upbeat momentum on most of the group's markets, the full impact of the cost savings and successful portfolio optimization measures under the Transform & Grow program, reductions in discretionary spending, and a very positive price-cost spread," it said.
Full annual results for 2020 will be published on February 25.
Current stock price: EUR40.00
Year-to-date change: up 6.7%
By Ife Taiwo; ifetaiwo@alliancenews.com
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