Saint-Gobain, the world's largest building materials supplier, increased its 2006 profit targets after reporting a net profit for the 1H 2006 just ahead of forecasts, thanks to strong markets in Europe & the US. Encouraged by what it described as some of the best half-year results in its 341-year history, Saint-Gobain said it now expected an increase in 2006 operating profit of 27-28% & a 25-26% rise in net profit, excluding capital gains or losses. Its previous forecast was for a 23-25% increase in operating profit & 18-20% rise in net profit. The company said 1H 2006 net profit, excluding capital gains or losses, rose to EUR 813M. Including gains, net profit increased 26% to EUR 797M (EUR 632M), while operating profit was 32.3% higher to EUR 1.815M.
