Wendel says 2012 profit hit by write-down

PARIS, March 28 Thu Mar 28, 2013 3:01am EDT

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PARIS, March 28 (Reuters) - French investment company Wendel on Thursday said net profit in 2012 halved from the previous year, hit by a write-down in the value of its stake in building materials maker Saint-Gobain.

Wendel, which also has holdings in testing firm Bureau Veritas and electrical equipment group Legrand , posted 2012 net profit of 221.1 million euros ($282 million), compared with 525.4 million euros in 2011.

Net asset value, Wendel's most closely watched indicator, stood at 6.56 billion euros, or 132.5 euros per share as of March 18 compared with 106.7 euros per share in late November and 98.6 euros a year ago.

Full-year sales rose 12.6 percent to 6.7 billion euros compared with a Thomson Reuters I/B/E/S average forecast of 6.6 billion euros. They stood at 5.9 billion in 2011 and 5 billion in 2010.

Wendel said it would offer shareholders a dividend of 1.75 euros for 2012, up from 1.30 euros paid in 2011.

($1 = 0.7824 euros) (Reporting by Alice Cannet; Editing by Elena Berton)

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