STÜHLINGEN (dpa-AFX) - The insulation material and paint manufacturer Sto continued to feel the effects of restrained investment in the construction industry in the first quarter of the new year. Turnover fell by just under six percent to EUR 340.5 million compared to the same period last year, as the SDax-listed company announced in Stühlingen on Wednesday. The start to the year was also weak due to seasonal factors and unfavorable weather conditions. On top of this, a lower number of working days in March made itself felt. Sto nevertheless confirmed its forecast for the year.

At the end of April, when presenting the figures for the past fiscal year, Sto warned that turnover in the first quarter would be below the previous year's level and expectations due to the continuing weakness of the construction industry. In April, turnover across the Group was once again above the previous year's figure, but remained below expectations, mainly due to the poor weather in many countries. Low temperatures and frequent precipitation had a negative impact on Sto's facade business, among other things./niw/zb