3M reports record-breaking results for 2013

3M has announced its satisfaction with its business performance during the 2013 fiscal year, during which it achieved its best ever annual results.

The company generated $30.9 billion (18.92 billion pounds) in revenue during the 12 months, which was up by 3.2 percent on last year. Of this total, $7.6 billion came during the fourth quarter, which was also a record.

Moreover, earnings per share reached new benchmark levels for both the fourth-quarter and full-year periods. Most of its core business units achieved year-on-year growth, with the healthcare division among the strongest performers.

In 2014, the company expects to achieve organic local-currency sales growth of between three and six percent thanks to its strategy of portfolio management, innovation investment and business transformation, combined with more aggressive capital deployment.

Inge Thulin, 3M's chairman, president and chief executive officer, said: "3M employees around the world are bringing our vision and strategy to life and improving 3M's relevance in the eyes of our customers."

The group also announced a new $12 billion share repurchase programme this week, reflecting its confidence in its future business performance.