Bic lowers full-year growth forecast

Bic lowers full-year growth forecast

Bic lowers full-year growth forecast

French company Bic, known for its disposable lighters, ball-point pens and razor blades, has seen its sales stagnate over the past six months. The board has immediately lowered its full-year growth forecast.

1.063 billion euro turnover

Bic achieved a 1.063 billion euro six-month turnover (+ 0.3 % compared last year’s first semester), thanks to the Stationary division that grew 3.3 % and is the company’s largest division with a 428 million euro turnover. Distributors responded well to Bic’s novelties for the upcoming schoolyear, the Clichy-based company said.   

 

Bic’s disposable lighters also continue to sell well and contribute 356.9 million euro, up 0.8 %. Its razor blade division did not do as well, as its turnover slumped 4.3 % to 236.4 million euro, mainly because of weaker sales in the United States. By comparison, Europe and the growth markets did display growth for the razor blade division.

 

Even though its second quarter turnover outperformed the first quarter, the board still dialed back its full-year growth forecast. “As markets remain volatile for the balance of the year, coupled with recent signs of lower consumption in Brazil, we now expect to trend between 3% to 4% Full Year Organic Net Sales growth”, Bic said. Only three months ago, it targeted a 5 % increase, but analysts had already stated that number was far too optimistic. The French group published a 2.026 billion euro turnover and a 249.7 million euro net profit.

Questions or comments? Please feel free to contact the editors


Gerelateerde items

Not everyone is pleased with new European warranty guidelines

23/02/2018

The European Parliament approved a proposal to harmonize warranties all across Europe, but not everyone is satisfied with the content.

The world's first start-up supermarket, KaDeTe, opens in Berlin

22/02/2018

The world’s first startup supermarket, KaDeTe, will open its doors in Berlin next month. The physical marketplace will give young brands and companies an opportunity to engage consumers and buyers.

"Not a major surprise" if Unilever were to choose Rotterdam

22/02/2018

The Financial Times believes Rotterdam is in pole position to become the British-Dutch Unilever’s new main office, instead of London. The business paper claims the information comes from political insiders.

Record results for Henkel

22/02/2018

German Henkel experienced a strong 2017, with record numbers for both its profit and turnover. The company managed to surpass the 20 billion euro turnover milestone for the first time.

Go Sport divulges major international plans

22/02/2018

French sports retailer Go Sport, which has twelve stores in Belgium, has very ambitious expansion plans. Spain and Poland are its European targets, but it will also focus on Morocco and India.

Merger paid off for Fnac Darty

22/02/2018

French entertainment and electronics retailer Fnac Darty (owner of Belgian chain Vanden Borre and Dutch BCC) has experienced a “solid 2017”, with a nearly 40 % turnover increase.

Back to top