German Beiersdorf says 2010 profit up 19%

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The German cosmetics group Beiersdorf, maker of Nivea products, posted on Tuesday a 2010 adjusted pre-tax profit increase of almost 19.0 percent and stood by its outlook for this year.

Beiersdorf said that pre-tax profit rose to around 697 million euros ($900 million), up from 587 million euros a year earlier on sales which rose by 7.7 percent to 6.19 billion euros.

On a like-for-like basis, group sales showed an increase of 3.1 percent on the year, a statement said.

For 2011, the company still expected sales to remain at the same level as last year, it said on its website.

Core earnings would likely be lower however.

© 2011 AFP

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