BIC Group Releases 9-Month 2012 Sales Figures
BIC Group today reported its nine-month sales results for 2012. For the period ended in October, the company posted a 4 percent net sales increase on a comparative basis. Net income was up 15.8 percent at 213.0 million euros ($276.3 million).
For the third quarter of 2012, BIC's net sales were up 4.4 percent at 488.8 million euros, compared to 468.2 million euros in 2011. While net sales were down slightly at constant currencies, the company indicated net sales were up 0.5 percent on a comparative basis.
"Our solid nine months results confirm the strength of our business model," Mario Guevara, chief executive officer, said in a press release. "We maintain our strategy: Consistently invest in our business to generate profitable long-term growth. Overall, the BIC brand continues to be well-received by consumers around the world, because it always stands for high quality and value."
BIC Advertising and Promotional Products (BIC APP), which includes Norwood & BIC Graphic USA, saw a full year 2012 net sales decline on a comparative basis, in line with nine months trends. "Due to the benefits of the integration plan, full year 2012 normalized IFO margin should be comparable to 2011's," the company said in a statement.
BIC Group indicated that the company's normalized income from operations increased 7.2 percent, from 91.0 million euros in 2011 to 97.6 million euros in 2012. "For all these reasons, we are confident to achieve our full-year objective to maintain the 2012 group normalized income from operations margin in line with 2011's peak level, despite accelerated investments in research and development, new products and manufacturing capacities," Guevara said.
For the full report, visit BIC Group's website.