Groupe Bic reports that its sports division suffered a small double-digit sales decline in constant currencies for the first quarter. Bic Sport already saw its turnover decline by about 5 percent in 2017, which was blamed on an increasingly competitive market in the U.S. The group has overhauled its business in recent years to become a leading supplier of stand-up paddling gear, complementing its business in windsurfing, kayaks and junior racing dinghies, among other water sports products. Its latest moves include the acquisition of global rights to the Sic Maui brand of paddle sports products from the Flow group last year. The entire Bic group, which has a much larger business in stationary, lighters and shaving equipment, reported sales of €415.4 million for the three months, down by 1.5 percent in constant currencies, while its adjusted operating margin dipped by 0.4 percentage points to 16.7 percent.

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