Bic : A first disappointing quarter
>A disappointing Q1: underlying operating profit of € 54.5m vs € 65.8me - For its Q1, Bic reported results which were disappointing and below expectations. 1/ Consolidated sales came in at € 415.4m, stable compared to the previous year while we had forecast € 428.7m (consensus € 420.5m). The difference is linked to organic growth which dropped 2% while our estimates were based on an increase of 1.3% (0.4% for the css). 2 / The normalised operating profit fell by 21.6%...Societe BIC designs, manufactures and distributes the following consumer products: stationery products, lighters, shavers, and other products. Its stationery products include writing instruments such as ball pens, felt pens, mechanical pencils; marking instruments; coloring and drawing instruments; correction instruments and glues. Co.'s stationery products are sold under the BIC® Kids, Tipp-Ex®, Wite-Out®, Sheaffer® and PIMACO® brands. Its other products segment includes promotional products including notebooks, key rings, magnets, and drinkware; Sport sales (surfboards, windsurf boards, kayaks and sailboats); adhesive labels and adhesive raw materials.
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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