BIC Group Reports First Half Results for 2013
BIC Group, parent company to BIC Advertising & Promotional Products (BIC APP), reported its 2013 second quarter and first half results this week. The group as a whole reported sales of approximately $1.243 billion (937.5 million euros) for the six-month period, up 2.2 percent on a comparative basis from same period in 2012. Net sales for the quarter were up 4.1 percent on a comparative basis at $675.2 million (508.9 million euros).
The BIC APP division saw net sales decreased 11.9 percent in that period.
BIC APP, which includes supplier Norwood & BIC Graphic, saw a 6 percent decline in sales for the second quarter and 8.4 percent decline in sales for the half on a comparative basis. The company's second-quarter sales were $82.4 million (62.1 million euros), and for the six-month period, sales were $152.7 million (115.1 million euros).
"Even with the ongoing unpredictability of the European economy, our business has improved and is on a sure footing," said Edgar Hernandez, general manager of BIC APP. "We have a solid foundation and are poised for long-term growth. In North America, we continue the process of rebuilding. The first six months of the year have been spent analyzing our business and defining key product segments that differentiate us in the market. We are seeing a noticeable improvement in customer perception as we regain our reputation for service excellence. Our BritePix innovation has been very well received and has exceeded forecast expectations."
"The BIC Group is behind us and we have a very positive outlook for recovery and growth in the next three years," Hernandez said. "We are definitely playing to win."
The full release is available on BIC Group's website.