Henkel Q3
This article was originally published in The Rose Sheet
Executive Summary
In personal care, "hair, cosmetics and skin care businesses performed particularly well" in the third quarter, contributing to 3% sales growth and an 11.7% jump in operating profit to $52.3 mil., German company reports during Nov. 17 sales and earnings call. Consolidated operating profit grew 7.4% to $204.3 mil., and net earnings rose 11.3% to $140 mil. in the period. Sales grew 3.8% after currency adjustment, but were flat at $2.8 bil. on a constant basis. Third quarter charge of $101 mil. related to restructuring is nearly offset by gain of $96.3 mil. from sale of stake in Wella. Personal care sales are anticipated to grow in the high single digits for the full year following currency adjustments, while overall sales are expected to increase more than 4% after adjusting for currency and acquisitions/divestitures...