Henkel reports profits down in third quarter

9th November 2011, Comments 0 comments

German consumer chemicals group Henkel, maker of Persil washing powder, on Wednesday upgraded slightly its full-year sales targets, even though profits fell in the third quarter.

Henkel, which also makes Pritt Stick adhesives and Schwarzkopf haircare products, said in a statement its net profit fell by 8.9 percent to 307 million euros ($423 million) in the period from July to September.

Operating profit was down 10 percent at 451 million euros on a 1.7-percent rise in sales to 4.028 billion euros.

Looking ahead the full year, Henkel raised its sales targets.

"Following the first three quarters, we're confident that we can grow faster than the market," said chief executive Kasper Rorsted.

"We're now projecting organic sales growth of 5.0-6.0 percent, rather than the 5.0 percent we had previously been forecasting."

In terms of profits, Henkel said it was pencilling in an operating margin of 13 percent for the whole year and a 10-percent increase in earnings per share.

© 2011 AFP

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