US: Owens Corning (OC), has announced today that its third-quarter profit for 2011 has more than doubled. The company attributed the increase to a jump in sales. The Toledo, Ohio company said it posted a profit attributable to common shareholders of USD124m USD1.01/share), up from USD58m from the same quarter of 2010.
Revenue rose by 22% to USD1.45bn from USD1.19bn in 2010, as sales at both the company's insulation and roofing business both rose.
The company said that, based on its current projections, it expects to post its second-consecutive year of adjusted earnings per share growth of nearly 40%.
