Label maker reports organic revenue decline for the first three months of 2024.

 

The company’s Q1 sales were C$252.8 million (US$184 million). This was a reported year-on-year drop of 2.9 per cent, adjusted to -4.5 per cent on an organic basis. Legacy product line declines more than offset direct-to-consumer and horticultural segment growth in the US and Europe. Latin America and Australia were both described as “soft”.

 

In the current quarter, Avery is facing tough comparisons with last year’s Q2. Canadian owner CCL Industries said the business would experience the usual timing uncertainties related to the back-to-school season, although the horticultural category is expected to remain on its growth trajectory.

 

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