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Saint-Gobain H1 profit up 61.7% YOY

Compagnie de Saint-Gobain AG's first-half net attributable income rose 61.7% to €1.22 billion from €754 million in the same period a year ago.

The company's recurring net income grew 6.8% in the first half of 2018 to €802 million from €751 million in the year-ago period. Recurring EPS came in at €1.47, compared with €1.35 in the previous year.

Sales and ancillary revenue for the building products company rose to €20.79 billion in the first half from €20.41 billion in the prior year. Construction products contributed €6.48 billion in sales while innovative materials, which include Fiat glass and high-performance materials, brought in €5.28 billion in sales.

During the half, operating income was broadly steady at the year-ago level of just under €1.47 billion.

Saint-Gobain continues to target a like-for-like increase in operating income for the full year, and expects the like-for-like increase in operating income in the second half to be clearly above the first-half level.