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Beiersdorf raises full-year targets

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(Globalpost/GlobalPost)

German chemicals group Beiersdorf, which makes Nivea hand cream, said late Monday that it was upgrading its full-year forecasts after a favourable performance in the first nine months.

"Beiersdorf is forecasting sales growth of 6.0-7.0 percent in fiscal year 2013 on the back of its strong business performance," the company said in a statement.

Previously, Beiersdorf, which also makes tesa sticky tape, had been targetting sales growth of 5.0-6.0 percent.

With regard to profits, the group said it now expects an operating profit margin of around 13 percent, compared with 12-13 percent previously.

In the first nine months, sales expanded by 7.3 percent to 4.674 billion euros ($6.3 billion) and the operating profit margin stood at 13.9 percent.

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http://www.globalpost.com/dispatch/news/afp/131105/beiersdorf-raises-full-year-targets