Emerging markets boost Nivea firm
Fin24/ AFP - Aug 8th, 09:01
Frankfurt - German cosmetics group Beiersdorf said on Wednesday that strong demand for its Nivea hand cream and Labello lip balm in emerging markets lifted its second quarter sales and profits.
The company said it expected higher turnover this year owing in part to a 3.7% rise in sales between April and June to $2.12bn.
During the first half, demand for Beiersdorf products was particularly brisk in Latin America, especially Brazil, and in Asia, Africa and Australia, where sales rose 17% thanks to particularly robust turnover in China.
At the same time, sales in Europe were down.
Beyond Nivea and Labello, Beiersdorf is home to the Eucerin and La Prairie brands as well as Tesa adhesives.
It said that sales for the year were likely to climb by 5% to 6% and the company aims for a margin for earnings before interest and tax of 12% to 13%. The figure was 13.7% in the first half.From Fin24.com
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