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Saint-Gobain reiterates target for EBIT growth in 2005

Compagnie de Saint-Gobain SA confirmed that it continued to aim for 6% growth in earnings before interest and tax (EBIT) for 2005 despite challenging trading conditions in the 1H.
The guidance was re…

Compagnie de Saint-Gobain SA confirmed that it continued to aim for 6% growth in earnings before interest and tax (EBIT) for 2005 despite challenging trading conditions in the 1H. The guidance was reiterated by Saint-Gobain Chief Executive Jean-Louis Beffa on 8 June 2005 during a presentation to analysts, a company spokesman said. Beffa also told analysts the 1H was “challenging” due to trading conditions in Europe, the spokesman said. The guidance is unchanged from that made in April 2005, the spokesman added. In April 2005, Saint-Gobain said it expected sales volumes to improve after slipping 3.2% in the 1Q 2005 due to the impact of a harsh winter on its flat glass and building distribution businesses. It also confirmed its target of a 6% growth in operating income for 2005, excluding the impact of exchange rate fluctuations.

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