BIC: revises FY 2019 outlook
(CercleFinance.com) - On Friday evening, disposable consumer product group BIC announced that has revised its outlook for 2019.
The group now expects like-for-like sales to be either flat or fall by up to 2.0%, against an initial forecast of slight growth. Q3 2019 sales are expected to decline by -0.5%, while sales over the first 9 months of the year are expected to fall by 1.2%, like-for-like.
"This adjustment in the revenue outlook for 2019 is due to lower-than-expected third quarter revenue," the group said.
The group also expects its 2019 underlying operating margin to be at the lower end of the initial target range of 16.5% to 18%. "The operating margin for the third quarter is expected to be 18% and that of the first nine months of 2019 is expected to be 16.6%," BIC said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The group now expects like-for-like sales to be either flat or fall by up to 2.0%, against an initial forecast of slight growth. Q3 2019 sales are expected to decline by -0.5%, while sales over the first 9 months of the year are expected to fall by 1.2%, like-for-like.
"This adjustment in the revenue outlook for 2019 is due to lower-than-expected third quarter revenue," the group said.
The group also expects its 2019 underlying operating margin to be at the lower end of the initial target range of 16.5% to 18%. "The operating margin for the third quarter is expected to be 18% and that of the first nine months of 2019 is expected to be 16.6%," BIC said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.