French manufacturer Bic, the world's biggest maker of disposable pens, doesn't plan to sell any units, such as razor operations, after reporting a 39 percent drop in first- quarter profit, Chief Executive Officer Mario Guevara told Les Echos newspaper.
"We are confident in the medium term,'' Guevara said, according to the newspaper. "The company is in a year of transition.'
During the first quarter 2008, Bic reported a turnover of 308.1 million euros, a drop of 0.9 %.
Guevara blamed the U.S. slowdown, a reduction of inventories by customers and higher marketing costs for the drop in profit. He predicted marketing would improve sales and the group foresees a slight increase in turnover for 2008.