Saint-Gobain sales fall 14.8%

Saint-Gobain, whose stable of companies includes a variety of UK-based timber businesses, saw its sales drop 14.8% in the first quarter.

The group recorded €8.7bn sales during the period, compared with €10.3bn a year earlier. Sales prices gained 2.3%, while volumes slumped 17.2%.

The building distribution division, which includes Jewson and International Timber, recorded €3.9bn sales, down 14% from €4.6bn.

“With all global markets in the doldrums during the first quarter of the year and faced with persistent uncertainty going forward, Saint-Gobain has not yet seen any concrete evidence that the economic crisis has bottomed out,” it said.

“As a result, and given the unfavorable basis for comparison, first-half 2009 will be extremely challenging.”