By Inti Landauro
PARIS--French construction maker Compagnie de Saint-Gobain SA (SGO.FR) expects its profit in the first half of 2012 will be lower than in the same period of 2011, due to weaker results of the company's flat-glass unit, the company's Chief Executive Pierre-Andre de Chalendar said Thursday.
Speaking at the company's annual shareholders' meeting, Mr. de Chalendar added that the strong first half in 2011 will also have unfavorable effects on the company's profitability in the comparable period this year.
Given the more difficult economic environment, Saint-Gobain will pursue plans to adjust the size and scope of its weaker businesses, said the CEO.
Despite the weak result expected in the first half of 2012, Mr. Chalendar reiterated the company's guidance of a "moderate organic growth" for the full year.
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(END) Dow Jones Newswires
June 07, 2012 12:25 ET (16:25 GMT)
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