9 July 1998: France“s Saint-Gobain chairman Jean-Louis Beffa said recently that the economic crisis in Asia would not affect the company“s second half results.
He reaffirmed the company“s target o…
9 July 1998: France“s Saint-Gobain chairman Jean-Louis Beffa said recently that the economic crisis in Asia would not affect the company“s second half results. He reaffirmed the company“s target of two-digit growth in the company“s 1998 results, but said it was too soon to estimate the impact of the Asia crisis in 1999. “I don“t see, at this stage of our assessment, a negative impact from the Asia crisis on our results or our business in the second half of 1998,” Beffa told a shareholders meeting. “It is too soon to tell for 1999,” he added. He said he expected a record profit in 1998 both with and without exceptional elements. “Saint-Gobain“s profit will rise by a double-digit percentage in 1998 compared to 1997,” he said. He also reaffirmed the company“s target for an 8% rise in turnover this year.