February 19, 2014 / 5:11 PM / 4 years ago

Saint Gobain eyes 2014 upturn after profit drop

PARIS, Feb 19 (Reuters) - Building materials supplier Saint-Gobain said it expected a rebound in operating profit in 2014 after net income fell by 14.1 percent last year, hit by an uneven economic recovery in Europe and the United States.

Europe’s biggest sector player is planning to make additional cost savings in 2014-2015 and is eyeing 4 billion euros of acquisitions through 2018 as part of a strategy to focus on high-growth, high-margin products.

“For 2014...we expect a clear improvement in operating profit on a like-for-like basis,” Saint Gobain Chief Executive Pierre-Andre de Chalendar said in a statement.

Reporting by Lionel Laurent; Editing by Andrew Callus

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