Bic : Q2 results down sharply – target price adjusted to € 72 vs € 90
>Strong fall in H1 earnings: underlying operating profit -17.1% to € 98.5m - The BIC group reported Q2 results that were down sharply, with: Almost flat sales (+0.2%) at € 544.8m (€ 536m estimated; € 553.5m for the consensus) given that at constant scope and forex, the fall would have been 1.3%, i.e. a trend close to Q1 (-2%). We looked for a decline of 1.5% vs +0.1% for the consensus. Normalised operating profit was down more strongly by 17.1% to € 98.5m, ...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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