BIC Group have reported their first quarter results for 2012.
The company reports an increase in turnover by 9% up to 445 million Euros compared to the previous year. The gross profit improved by 10.5% rising up to 233.4 million Euros.
Stationery and cigarette lighters grew by 7.7% and 9.3% respectively, however sales in the promotional products sector dropped slightly by 0.7%.
Commenting on BIC Group results, Mario Guevara, Chief Executive Officer, said: “Our strong first Quarter 2012 results confirm consumers’ preference for the BIC® products around the world.
During the first months of 2012, all Consumer Business categories achieved strong results, driven by the success of both core and new products. Although the economic environment remained challenging, we performed very well as we continued to reinforce our competitive positions in developed and developing regions.
In Advertising and Promotional Products, whereas Europe continued to be weak, particularly in Southern countries, net sales trends showed some progress in the U.S. and BIC operational efficiency has started to improve.
The company predicts that its net sales of advertising and promotional products for the full year 2012 should be flat to slightly declining on a comparative basis.
Founded in 1945, the Group recently announced that they had completed the integration of Norwood Promotional Products, purchased by BIC USA in 2009.