Label maker reports boost in direct-to-consumer sales.

 

Avery achieved year-on-year organic revenue growth of three per cent in the third quarter of 2024, according to Canadian parent company CCL Industries.

 

For the three months ended 30 September, Avery’s sales were C$279.7 million , up from C$269.5 million 12 months ago. An early end to the back-to-school season was a drag in North America, but this was offset by growth in direct-to-consumer badges and cards.

 

Progress in Europe and Latin America was described as “solid”, but softness was reported in Australia.

 

Profitability improved, with operating profit climbing by eight per cent to C$55.2 million and operating margin increasing by 90 basis points to 19.7 per cent. Drivers of this were consumer badging, and RFID wristbands and cards.

 

CCL CEO Geoff Martin said Avery’s fourth quarter results were tracking to be stable compared with Q4 2023.

 

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