Bic Nicked by Q3 Profits Slide

02 November 2007

CLICHY, France: The Bic company, maker of disposable razors, pens and cigarette lighters, has reported a lacklustre set of third quarter results, with sales up by just 0.5% to €366 million ($527m; £253m) and a fall in net income of 15% to €41m, compared with the year earlier period.

The firm has been disappointed by poor sales of its first non-disposable razor - the Bic Soleil for women - but in addition, says ceo Mario Guevara, a slump in US demand for promotional pens has been a strong factor in the weaker outlook.

Competition in Bic Soleil's market has been fiercer than expected in the US and UK. The company says it is reviewing next year's plans for the product.

Data sourced from Financial Times; additional content by WARC staff