Bic : Q2 results close to expectations but the business climate's still tough
>Half-yearly earnings close to forecasts (normalised op. margin -110bp) - Bic reported Q2 2018 results close to expectations. The key figures are as follows: Sales rose by 9.2% to € 543.9m, i.e. slightly lower than our estimates: we had forecast € 552.8m (€ 553.6m for the consensus). On a like-for-like basis, the decline is quite significant, at -2.3% vs our forecast of +0.9% (consensus 0%).Normalised operating profit came in at € 118.7, down 13.4%, which is...Bicecorp is a holding company and through its subsidiaries is engaged in commercial and investment banking; provision of life insurance and administration of funds. Commercial banking includes corporate, personal banking and capital markets. Investment banking includes merger and acquisitions, privatizations, capital markets and financing of projects. Life insurance includes commercialization of survivorship annuity and traditional insurances, provision and administration of mortgage loans and fund and asset administration. Co. also engages in the provision of consulting services. As of Dec 31 2009, the bank's total assets amounted Chl$527,758,333,000.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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