3M: August sales up 2%
(CercleFinance.com) - The conglomerate 3M has reported a 2% y-o-y increase in its total sales in August, which reached 2.
7 billion dollars.
On an organic basis and in local currencies, however, sales declined by 2% compared to the same month in 2019.
However, the St. Paul, Minnesota-based group reported that its sales were affected by an unfavourable calendar effect of five percentage points (21 working days this year compared to 22 working days a year ago).
While significant global economic uncertainty remains due to the Covid-19 pandemic, 3M estimates that, with one month to go, its Q3 sales will be 8.2-8.3 billion dollars.
Copyright (c) 2020 CercleFinance.com. All rights reserved.