The consolidated net sales of France“s Saint-Gobain Group for the first nine months of 1999 amounted to Euros 16,721 million (FFr 109.683 million), compared with Euros 13,300 million (FFr 87,241 mi…
The consolidated net sales of France“s Saint-Gobain Group for the first nine months of 1999 amounted to Euros 16,721 million (FFr 109.683 million), compared with Euros 13,300 million (FFr 87,241 million) for the same period of 1998. This represented an increase of 25.7% or 8.9% excluding Essilor and the downstream flat glass business. Based on a comparable structure, before full consolidation of Essilor and the flat glass transformation subsidiaries, net sales dropped 0.6% in Euros, but rose by 1.3% in local currencies. The glass sector sales continued to grow, reflecting sustained demand in both Europe and in the US – especially in the construction market – and the effect of price increases in the Insulation Division. The Group confirms its objective of achieving at least 15% growth in 1999 earnings per share, excluding capital gains and after taking into account the, impact of last Junes reduction of 5% of share capital.