At the end of 2017, BIC’s stationery category showed a much-need improvement – but the upward trend seems to have been short-lived.
For the three months ended 31 March 2018 (Q1), sales in the stationery segment of the business declined 8.3% to €151.8-million ($18.5-million).
Overall, BIC Stationery saw adjusted profit increase 60% to €9,6-million – largely due to ofsetting raw material costs and dealing with currency fluctuations.
Key take-aways from the figures are:
- Sales in Europe were flat – the UK and France showed a decline, which was offset by growth in other European areas
- Sales in North America increased in low single digits
- Strong trade in Mexico ofset a weaker Brazil, giving Latin America low-single-digit improvement
- EMEA (the Middle East and Africa) sales were boosted to double digits, thanks to a robust back-to-school season in South Africa
- BIC’s Indian subsidiary, Cello Pens, reported flat domestic sales as it continues to streamline its portfolio and increase brand awareness