Bic posted disappointing Q1 19 numbers with sales and profits missing street expectations. Stationery (in India) and lighters (in the US) were the main drags with segmental organic growth and margins slipping to multi-year lows. However, shavers reported a second consecutive quarter of robust growth, driven by the US, which was a surprise. As the trading environment is likely to remain challenging and comps are getting tougher, we trim our estimates on the stock.
26 Apr 2019
Disappointing Q1 due to stationery and lighters
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Disappointing Q1 due to stationery and lighters
Societe BIC SA (BB:PAR) | 0 0 1.6% | Mkt Cap: 4,035m
- Published:
26 Apr 2019 -
Author:
Sumit Sayal -
Pages:
4
Bic posted disappointing Q1 19 numbers with sales and profits missing street expectations. Stationery (in India) and lighters (in the US) were the main drags with segmental organic growth and margins slipping to multi-year lows. However, shavers reported a second consecutive quarter of robust growth, driven by the US, which was a surprise. As the trading environment is likely to remain challenging and comps are getting tougher, we trim our estimates on the stock.