PARIS (Dow Jones)–Maker of pens, lighters, razors and promotional items Bic on Tuesday raised its forecast for revenue growth in 2022, after recording a double-digit increase in sales in the first half on a year.
The group now anticipates growth of between 10% and 12% at constant exchange rates for the whole year, against 7% to 9% previously. As in the first half, this increase will be “driven by growth in volumes and a favorable price impact”, he specified.
Bic also expects an increase in its adjusted operating income, “despite the headwinds linked to inflation, and the increase in brand support investments”.
This forecast takes into account a negative impact of cost inflation estimated at around €100 million on adjusted operating income in 2022.
The group made these forecasts while its turnover rose by 15.5% at constant exchange rates in the first half, to 1.13 billion euros.
Adjusted operating income increased by 22.2% to €202.9 million, showing a stable margin of 18%.
Adjusted net income was €149.7 million, or €3.39 per share, compared to €112.7 million or €2.51 per share in the first half of 2021.
For the second quarter alone, group sales reached 611.4 million euros, exceeding the FactSet consensus, which was 588 million euros. Adjusted operating income came out in line with expectations, at 101.1 million euros.
-Francois Schott, Agefi-Dow Jones; 01 41 27 47 92; [email protected] ed: LBO
BIC FINANCIAL RELEASES:
http://www.bicworld.com/fr/finance/communiques/
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August 02, 2022 12:29 ET (16:29 GMT)