BIC Graphic Posts Increased Sales in Third Quarter
BIC Graphic reported net sales have increased 2.6 percent overall, with promotional product net sales improving by 1.9 percent in the third quarter.
To date this year, net sales have gone up 5 percent while promotional products' net sales have increased by 1.1 percent. Those number resulted in 251.8 million Euros net cash (approximately $320 million net cash) through nine months in 2014 versus 217.2 million Euros (approximately $276 million net cash) during the same timeframe last year.
In July, BIC increased its stake in Cello Pens to 75 percent while it sold Sheaffer to A.T. Cross Company, in August for $15 million. The sale's closing is expected to be completed in mid-fourth quarter.
“Our 9 months results were good and in line with our full year expectations," said Mario Guevara, CEO, BIC Group. "Globally, consumer categories' market-share gains were driven by strong execution from our teams and the success of both classic and new products.
"Benefiting from restored customer service and enhanced marketing programs, BIC Graphic has started to recover momentum with low-single digit growth, mainly in North America and particularly in hard goods. Net cash position remains very strong and we firmly believe we will achieve our full year objectives in both the consumer, and advertising and promotional businesses.”
For more information, visit www.bicgraphic.com.