Henkel Profits Beat Forecasts Thanks To Emerging Markets
Published on Nov 12 2013 2:43 PM in A-Brands
German chemicals giant Henkel, maker of Persil washing powder, Loctite glue and Schwarzkopf hair care products, says its earnings rose in the third quarter on strong growth in emerging countries.
"The emerging markets once again showed a particularly dynamic development" in terms of sales, chief executive Kasper Rorsted said in a statement today.
"We significantly increased both earnings and profitability," Rorsted said.
As a whole, Henkel reported third quarter adjusted earnings before interest and tax (EBIT) of €672 million.
The group now expects an adjusted EBIT margin of about 15% for the year, up from a previous forecast of 14.5%.
"The margin is excellent,” Joerg Philipp Frey, an analyst at M.M. Warburg in Hamburg told Bloomberg. “Laundry and home-care performed nicely. I expected even a bit more in adhesives.”
© 2013 - European Supermarket Magazine by Enda Dowling