ADVEO reports 7% increase in sales of traditional office supplies
| 14 May, 2014
European wholesaler ADVEO reports that its Q1 business performance was impacted by low sales in Electronic Office Supplies (EOS), due to low product availability, but this was partially offset by a 7% sales growth in the traditional office supplies business (TOS) and continued strategy pursuing profitability against volume.
Turnover was €263 million for the quarter, down 6.2% compared to the same period in 2013. Despite the sales performance, ADVEO says that all other P&L key variables (Gross Margin, Expenses and Financial Expenses) saw a positive evolution compared to 2013 with net profit up 7% due to lower expenses and the positive impact coming from its discontinued Industrial Business.