Difficulties in Brazil and USA affect results of Bic

The Bic group, weakened by the results in the United States and the fall in consumption in Brazil, registered a sharp drop of 21.5% in profits in the third quarter, according to the results published on Wednesday in Paris.
The company, with stable activities in the first nine months of the year, confirmed, however, the goal for 2017, which had been revised downwards at the end of September.
In the third quarter, Bic recorded a net profit of 57.8 million euros (68 million dollars), a drop of 21.5%.
Revenue fell 5% (-0.9 in an equivalent situation), 465.8 million euros.
Both the profit as revenues were below the expectations of analysts polled by the company Factset.
"The results in the United States reflect the unprecedented market destabilisation of razor blades in the country", stated the company.
The Group noted a "reduction of stocks of retailers" in Brazil of razors, stationery items and lighters, Bic President Bruno Bich said in a statement.