|
(Reuters) -- Belgian PVC window
frame maker Deceuninck lowered its outlook on Thursday, saying the global
economic slowdown had caused consumers to delay insulating their homes. While
previously forecasting 2011 revenue would remain flat, the group said it now
expected a decline of 3-4 percent. "What we're seeing is an entire softening of
the market, which is very typical in an industry like ours which is cyclical,"
Chief Executive Tom Debusschere told a conference call.
Shares of Deceuninck fell as much as 5.3 percent in early Thursday
trading, compared with a decline of about 1 percent in the Belgian Midcap Index
, of which it is a constituent. Deceuninck said it still expected a net profit
for the full year as raw material prices had stabilised.
The group makes PVC-based products for the construction industry, such as
motorway walls to block traffic noise, made from recycled PVC.
The group said demand was weakest in the U.S. and central and eastern
Europe, while revenue rose in Germany and Turkey.
mrcplast.com
| 
