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Henkel Trims Profit Outlook As Foreign Exchange Rates Bite

Published on Aug 16 2018 8:50 AM in A-Brands tagged: Featured Post / Henkel / persil / Schwarzkopf / Loctite / Paywall / Foreign Exchange

Henkel Trims Profit Outlook As Foreign Exchange Rates Bite

German consumer goods firm Henkel lowered its forecast for earnings growth in 2018 on Thursday after falling emerging market currencies and higher prices for raw materials dented its second-quarter results.

Henkel's shares, which had gradually recovered since the firm reported delivery problems in North America in March, were indicated down 3.3% in pre-market trade at brokerage Lang & Schwarz.

Sales Increase

The maker of Persil detergent and Loctite adhesives said group sales rose 3.5% to €5.143 billion, stripping out acquisitions and a hit from currencies, just above average analyst forecasts.

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