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3M Profits Jump Amid Heavy Demand For Face Masks
01/26/21 AT 9:07 AM
3M, a maker of N95 face masks, reported higher fourth-quarter profits Tuesday on the mixed impact of Covid-19 across its businesses while also projecting sales growth in 2021.
The industrial giant which operates in transportation, electronics and consumer businesses in addition to health care pointed to continued strength in personal safety, cleaning and home improvement as the coronavirus boosts demand for some products.
But 3M said the pandemic had dented revenues tied to some other areas, including elective health procedures and hospitality.
The company is projecting sales growth of between five and eight percent in 2021.
Tuesday, 26 Jan 2021 10:40 PM MYT
For all of 2020, 3M had profits of US$5.4 billion, up 17.5 per cent from the year-ago level. Reuters pic
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NEW YORK, Jan 26 3M, a maker of N95 face masks, reported higher fourth-quarter profits today on the mixed impact of Covid-19 across its businesses while also projecting sales growth in 2021.
The industrial giant which operates in transportation, electronics and consumer businesses in addition to health care pointed to continued strength in personal safety, cleaning and home improvement as the coronavirus boosts demand for some products.
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