Bic: fall in normalised H1 operating margin
(CercleFinance.com) - Bic has reported normalised net income (group share) of 84 million euros for the first six months of 2020, compared with 108.
4 million euros in H1 2019, and a normalised operating margin that is down 3.9 points to 12%.
The stationery, shaver and disposable lighter manufacturer's sales amounted to 775.8 million euros, down 18.2% on a comparable basis, with the impact of the Covid-19 pandemic estimated at between 11 and 12 points.
"Although we expect a gradual recovery during the Second Half, visibility on market trends and Full Year performance remains low," Bic said, which "focused on improving short-term resilience and strengthening operational Cash Flow generation".
Copyright (c) 2020 CercleFinance.com. All rights reserved.
4 million euros in H1 2019, and a normalised operating margin that is down 3.9 points to 12%.
The stationery, shaver and disposable lighter manufacturer's sales amounted to 775.8 million euros, down 18.2% on a comparable basis, with the impact of the Covid-19 pandemic estimated at between 11 and 12 points.
"Although we expect a gradual recovery during the Second Half, visibility on market trends and Full Year performance remains low," Bic said, which "focused on improving short-term resilience and strengthening operational Cash Flow generation".
Copyright (c) 2020 CercleFinance.com. All rights reserved.