BIC lowers outlook for 2019


Bic has announced that it will review its outlook for 2019. The Group expects a change in its comparable base turnover of between 0% and -2.0%, compared to the slight growth initially forecast. An adjustment due to a weaker third quarter turnover than expected. This is expected to fall by -0.5% over the last three months and that of the first 9 months by -1.2%, comparable basis. In addition, the normalized operating margin for 2019 is expected to be at the lower end of the initial range of 16.5% to 18%. Despite lower than expected volumes and unfavorable exchange rate developments, the normalized operating margin for the rest of the year is expected to benefit from more favorable production costs, and brand less important compars in the first half. The operating margin for the third quarter should be 18% and the first nine months of 2019 16.6%.

Bic said that the results of the third quarter and the first nine months of 2019 will be published on October 23 before the opening of the market.

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