Saint-Gobain profits down

Saint-Gobain saw a 39% decline in its operating profits to €2.2bn during 2009, the company has reported.

But the group, whose UK businesses include Jewson and International Timber, said the second half yielded a 38% increase in the operating result to €1.28bn. Full-year net profits were down to €202m (2008: €1.37bn).

Sales totalled €37.7bn, a 13.7% reverse on 2008.

The building distribution division improved slightly during the second half, with operating margins shrinking by 9.9%, compared to 14.5% in the first half.

Saint-Gobain said the UK and Spain had been most affected by the economic crisis but activity now compared favourably to the second half of 2008.