3M reports record-breaking performance in 2012

3M has experienced a record-breaking end to 2012, helping to achieve a new benchmark in terms of annual sales.

The multinational conglomerate's sales for the 12 months came to a record $29.9 billion (18.92 billion pounds), up by one percent on last year, while its fourth-quarter total of $7.4 billion also represented a new record.

Four of the company's six business segments posted full-year organic local-currency growth, led by its healthcare division, which saw a 4.7 per cent year-on-year improvement by this measure.

Within this unit, sales increased across all businesses, with the most significant improvements coming in food safety, health information systems, skin/wound care and oral care.

Inge Thulin, 3M's chairman, president and chief executive officer, said: "Our people executed well in the face of challenging macroeconomic conditions and we have built good momentum to innovate and move forward in 2013."

3M employs around 84,000 people globally and sells its products in nearly 2000 countries worldwide.