3M reports drop in stationery sales

US-based company 3M has reported that stationery and office supplies declined year-on-year on an organic local-currency basis during the third quarter.

However, local-currency sales increased 3,1% in the Consumer Group of 3M to $1,2-billion.

“This was another strong quarter for 3M,” says Inge G. Thulin, 3M’s chairman, president and CEO.

“The 3M team once again delivered broad-based organic growth with operating margins exceeding 22% in all businesses. As we look forward, our focus will remain on actively managing the portfolio and strategically investing in the business to continue delivering profitable growth across the company. 3M remains on track to deliver its long-term financial objectives.”

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