3 m's profit rises 6% in the third quarter with strong sales growth

The multinational 3 m reported high of 6% of its profits in the third quarter, thanks to sales growth of products such as water purification systems, industrial adhesives and tapes. The owner of the marks and Post-it Nexcare, however, narrowed the forecast for the results in the year and now, gain per share of $ 7.40 to $ 7.50, up from $ 7.30 to $ 7.55 previously.
According to 3 m, the diversified portfolio also includes abrasives, coatings, films used in a number of industries, among other items, the sales of energy and electronics unit rose by 3.5% in the quarter, while sales in the area of health care rose by 4.7%. In the consumer division, the expansion was 2.1%.
The multinational recorded net income of $ 1.3 billion, or earnings per share of $ 1.98, compared to $ 1.23 billion, or $ 1.78 per share, a year earlier. The quarterly revenue rose 2.8 percent to $ 8.14 billion, despite the negative impact of the exchange rate. Organic sales, which exclude this effect, showed high of 3.9%.
By region, sales of 3 m organic, in local currency, grew 6 percent in the United States, 4.9% in Asia, 0.8% in Europe, Middle East and Africa and 0.4% in Latin America and Canada. "This has been another strong quarter for the 3 m" evaluated in a statement the President of the company's Board of Directors, Inge g. Thulin. "Our focus will continue to actively manage the portfolio and invest strategically in business to deliver growth with profitability throughout the country," he said.