3M: Quarterly profit advances 5.8%

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3M reported second-quarter profit yesterday that matched analysts’ estimates as the US maker of Post-it notes and Scotch tape works to boost sales in high-margin emerging markets. Net income rose 5.8 percent to $1.27 billion (R13bn), it said. Chief executive Inge Thulin has expanded the research budget, realigned business units and emphasised international growth. He said 3M would look to develop fast-growing business lines such as air and water filtration. “Quick product development, global expansion, strong presence in a broad array of economic sectors and flexible product lines enable 3M to identify, target and seize dynamic growth opportunities as they emerge,” Matt Arnold, an analyst at Edward Jones, said last month. – Bloomberg


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