Emerging Markets Provide Boost For Henkel Profits In Q3
Published on Nov 21 2013 10:29 AM in Uncategorised
Henkel, the manufacturer of Persil washing powder, Pritt glue sticks and Schwarzkopf hair care products, has revealed a rise in third quarter earnings as a result of strong growth in emerging countries.
In a statement, chief executive Kasper Rorsted commented on the sales growth and said, “The emerging markets once again showed a particularly dynamic development.”
Overall, Henkel reported third quarter adjusted earnings before interest and tax (EBIT) of €672 million, and the company will now anticipate an adjusted EBIT margin of about 15% for the year, up from a previous forecast of 14.5%. “We significantly increased both earnings and profitability,” Rorsted noted.
According to Joerg Philipp Frey, an analyst at M.M. Warburg in Hamburg, “The margin is excellent.” He told Bloomberg, “Laundry and home-care performed nicely. I expected even a bit more in adhesives.”
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