BIC provides a moderate growth in sales in 2010 because it anticipates a slowdown in the second half. The first part of the year was solid with improved operating margins in 2010 compared to 15.3% in 2009.
The specialist pens, lighters and razors in a statement reported a 41.3% jump in net profit group share in the first half, while its operating margin rose 1.2 points normalized to 16 5%.
Its turnover is expected to show up "less than or around 5% in 2010, after a pace of 5.8% to 865.6 million euros in the first half.
The group anticipates a particular slowdown in sales of razors and lighters in the second half compared to those of 10.7% and 6.8% at constant exchange rates recorded respectively in the first half.The lighters have benefited from higher volumes in key markets and razors a good reception of new products in Europe and the United States.
As for sales of stationery, the first division in terms of sales, it will depend on consumer spending in September, after rising 5.3% in constant currencies in the first half mainly driven by Europe and North America.
The director general, Mario Guevara note in the statement that the economic environment remained "unstable" in mature markets, despite signs of recovery. "In this context, the economic model of Bic is well adapted to the changing demands of consumers," he argues.
In advertisements and promotional Bic expects a margin of between 7% and 9% in 2010, growing its sales depend on the economic recovery.The second half performance will be affected by the sale of the business of funeral products.
The group posted a net cash of 254.3 million euros at June 30, against 149.2 million at June 30, 2009, benefiting from improved profitability and stability of its industrial investment.
The action Bic closed Tuesday at 55.8 euros (-2.63%). It grew by almost 19% since the beginning of the year.