3M achieves record-breaking sales in Q1 2013

3M has achieved a benchmark financial performance in the first quarter of 2013, despite difficult trading conditions.

The group's sales for the period rose by two percent year over year to $7.6 billion (4.91 billion pounds), an all-time first-quarter record for 3M, while earnings per share rose to $1.61, up by 1.3 percent.

Most of the company's main business units delivered improved performances compared to Q1 2012, with the healthcare division seeing a 2.8 percent sales increase thanks to rising demand for food safety and critical care products, as well as health information systems.

This growth was achieved in spite of a low-growth economic environment and the impact created by the strength of the US dollar.

Inge Thulin, 3M's chairman, president and chief executive officer, said: "3M's unique combination of technology strength, manufacturing excellence and global capability will enable us to deliver sustainable increases in sales, earnings and cash flow."

Earlier this week, the firm underlined its commitment to product quality through the appointment of Eric Quint – formerly of Philips – as its new chief design officer.