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Saint-Gobain confirms 2003 FY figures, dividend slightly higher

French glass and building materials major Saint-Gobain confirmed on 26 March 2004 the sales and financial figures for 2003 which were published in its preliminary full-year report at the end of Januar…

French glass and building materials major Saint-Gobain confirmed on 26 March 2004 the sales and financial figures for 2003 which were published in its preliminary full-year report at the end of January 2004. The company confirms that it made a EUR1.039 billion (USD 1.26 billion) net profit in 2003, on revenues of EUR 29.6 billion, both figures slightly down from 2002. However the company remains confident that it can increase operating profit in 2004 at constant exchange rates. On the basis of the results, Saint-Gobain proposes to pay a net dividend of EUR 1.15 per share and predicted that operating profit at constant exchange rates would grow in 2004. In 2003, the company lowered its net debt by 19% to EUR 5.7 billion. The decision to raise the dividend by 1.8% compared to 2003 is being taken as a indication of the company“s confidence about its future performance.

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