(MENAFN- AFP) German cosmetics group Beiersdorf, maker of Nivea hand cream, said Friday it was raising its full-year sales targets after strong demand in emerging markets boosted business in the first nine months.
Beiersdorf, which also makes Tesa sticky tape and adhesives, said in a statement it is pencilling in sales growth of up to four percent, instead of the increase of three percent previously targetted.
In terms of profit, the group said it was standing by its forecast for an operating margin of 12 percent.
Beiersdorf said net profit jumped by 40.8 percent to 107 million euros ($138 million) in the period from July to September.
Underlying or operating profit gained 29.5 percent to 184 million euros on a 9.5-percent advance in sales to 1.504 billion euros.
Taking the first nine months, Beiersdorf's bottom line was up 6.4 percent at 351 million euros, underlying profit rose by 13.6 percent to 558 million euros and sales were up 6.4 percent at 4.566 billion euros.
The strong overall performance was "driven primarily by the strong increase in sales recorded in emerging markets," Beiersdorf explained.
While nine-month sales in Europe stagnated, sales in the Americas were up 9.9 percent, with Latin American sales jumping by 15.5 percent.
And sales in the Africa/Asia/Australia region advanced by 9.6 percent, Beiersdorf said.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.