Saint-Gobain first-half profit jumps on cost cuts, higher sales

Cie. de Saint-Gobain SA, Europe’s biggest supplier of building materials, said first-half profit rose almost fourfold as it cut costs and sales rebounded, led by the U.S. and Asia.

Net income rose to 501 million euros ($655 million) from 128 million euros a year earlier, the Paris-based company said today in an e-mailed statement. That compares with an average estimate of 498 million euros in a Bloomberg survey of four analysts, according to a July 29 Bloomberg Businessweek report.

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