Avery Dennison reported a 4 per cent increase in net sales for the third quarter, which totalled US $ 2.2 billion, in their preliminary results announcement.
“Due to increased volume and productivity gains, we produced a good third quarter with robust profitability growth that exceeded expectations,” the president and CEO of the company, Deon Stander, stated, “We have increased our full-year outlook for adjusted earnings per share.”
Label materials sales were up low-to-mid single digits on an organic basis, while the company’s materials segment stated sales up 3 per cent to US $ 1.5 billion. Deflation-related pricing reductions largely offset the mid-single-digit increase in volume/mix. Performance tapes and medical records were up low single digits naturally, while graphics and reflectives were up mid-single digits.
According to Solutions Group, sales rose 7 per cent to US $ 686 million, with low single-digit growth in high-value categories. Logistics for intelligent labelling and other high-value solutions helped offset the company’s robust expansion in clothing and general retail.
