BIC, a leading manufacturing corporation known for its stationeries, lighters, and shavers, has reported a substantial double-digit revenue growth across its operations in West Africa for the year ending December 2023.
The company’s recently released financial results for the fourth quarter and full year of 2023 showcased strong performance metrics.
Ending the fiscal year with a robust 6.9 percent growth in adjusted earnings before interest and taxes (EBIT), BIC achieved an EBIT margin of 14.7 percent. This growth was underpinned by improvements in gross profit margins attributed to favorable pricing strategies and operational efficiencies.
Gonzalve Bich, BIC’s Chief Operating Officer, attributed the company’s growth to the consistent execution of the Horizon Strategy for the third consecutive year. He highlighted the role of disciplined execution, innovation, and successful new launches in driving BIC’s performance amidst significant global macroeconomic challenges.
Source: PUNCH