Record Operating Income Expected in First Half 2022

SAINT-GOBAIN, the French headquartered construction materials giant has announced it expects record operating income to be posted for the first half of 2022.

The global company, which owns in the UK Jewsons, Minster, Pasquill, Celotex and Roofspace Solutions amongst several others, said the increased income stems from the busy renovation market, especially in Europe and construction in the Americas and in Asia (excluding China).

Record Operating Income

In a trading statement today, the business said trends since the start of 2022 confirmed the positive momentum of the Group’s markets, driven by prices in the context of high volumes compared to last year.

It adds that this performance reflects the Group’s strategic positioning as the worldwide leader in construction, deploying country-by-country as part of its ‘Grow & Impact’ plan.

The company confirmed that it is targeting a further increase in operating income in 2022 compared to 2021 at constant exchange rates. In first-half 2022, the Group expects the operating income to exceed the record level of first-half 2021 and to achieve a double-digit operating margin.

First-half 2022 results will be published on Wednesday July 27, 2022.

CMA Invites Comments

In May, the Competition and Markets Authority invited comments on whether Saint-Gobain’s $2.3 billion cash deal to buy underlay and waterproofing specialist, GCP Applied Technologies Inc. would lessen market competition.

The organisation has asked all interested parties to comment before it starts a formal investigation.

>> Read more about Saint-Gobain in the news.