PARIS, July 26, 2002 (PRIMEZONE) --
Slight Dip in Results in the First Half -- Sales up 0.4% (Down 0.3% on a Like-for-Like Basis) -- Operating Income Down 6.1% (Down 5.6% on a Like-for-Like Basis) -- Net Income Excluding Capital Gains Down 8.0%, to EUR 515 Million Objective for Full Year 2002: Stability in Net Income Excluding Capital Gains
Excluding sales of non-current assets, net income of the Saint-Gobain Group for the first half of 2002 is estimated at EUR 515 million, down 8.0% compared with the same period of 2001.
Consolidated net income is estimated at EUR 498 million, down 24.9% from first-half 2001, in which net income had been boosted by large-scale proceeds from the disposal of BNP Paribas shares.
Within the Housing Products Sector, the Pipe Division's distribution operations have been transferred, as from January 1, 2002, to the Building Materials Distribution Division, in order to set up a European organization for sales of materials in civil engineering markets.
This transfer does not affect overall Group income as presented below, but it does impact sales and operating income data by division presented in the Appendix.
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