News > July 2008

Jul 30, 2008 Avon Products 2nd-quarter profit more than doubles
Jul 29, 2008 Santander H1 Latin America profits up 4.4%
Jul 24, 2008 Global Profits Stick To 3M

---

Global Profits Stick To 3M

Date: 2008-29-08
By Carl Gutierrez
www.forbes.com

More consumers around the globe are making use of the sticky yellow Post-it notes and myriad other products that 3M makes, and that seems to have helped the company generate strong profits in the last quarter.

3M , which makes consumer goods like Post-it notes and Scotch tape, along with high-tech industrial products, posted expectation-beating earnings for the second quarter on Thursday, thanks largely to sales at its international operations.

3M's share rose 2.7%, or $1.89, to $72.69, in Thursday afternoon trading.

Although sales only grew 0.9% in the Asia Pacific region, 3M's revenue in Europe, the Middle East and Africa (EMEA), jumped 18.1%, and they soared 26.0%, in Latin America. The company said that international sales accouted for nearly two-thirds of its business in the second quarter.

"This quarter validates Chief Executive George Buckley's strategy, which is to have a very strong international presence and to be very diversified, not only by products, but also by geography," said John Koczara, portfolio manager at Ames Investment Council, a Grand Rapids, Michigan-based money manager.

Breaking the numbers down by segment, sales at the company's industrial and transportation division, 3M's largest, rose 16.7%, to $2.1 billion, from $1.8 billion, last year, and its health care business grew 11.3%, to $1.1 billion.

---

GO TO TOP OF PAGE

• PANAMA NEWS
• LATIN AMERICA NEWS
• CELEBRITIES MEET PANAMA
• CULTURE AND ARTS
• TOURISM IN PANAMA
• SPORTS

Would you like to receive more information from us regarding Panama Real Estate?