Strong Adhesive Sales Make Up For Henkel Delivery Woes
German consumer goods firm Henkel reported on Wednesday that strong first-quarter organic sales from its adhesives business helped compensate for falling laundry and beauty care sales due to delivery problems in North America.
Henkel said service levels had already improved significantly as it seeks to fix the delivery issues that it first reported in March, adding it was on track to return to normal in the course of the second quarter.
Analysts said the impact of the problems, which had sent Henkel's shares sliding, hurt profitability less than they expected, although the strong euro had a worse impact.
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