BIC Group Announces More Than 20% Growth in Sales
9M 2010 foreign currency fluctuations had a positive impact of +7.0 percent on net sales, of which +2.8 percent was due to Latin American currencies (+2.2 percent for the Brazilian Real) and +2.3 percent to the increase of the U.S. dollar.
The 9M 2010 gross profit margin increased +0.6 pts at 47.3 percent of net sales. Favorable impacts in the consumer business (better volume absorption and savings related to 2009 cost reduction plan) were partly offset by the impact of the consolidation of Norwood Promotional Products and Antalis Promotional Products (lower gross profit margins). Both consumer and APP businesses gross profit margins are showing improvement in the third quarter 2010 vs. 2009.