Beiersdorf reports marked economic recovery
Q3 sales see 4% organic growth
Beiersdorf has posted 4% organic group sales growth in the third quarter to bring total sales growth in the first nine months of 2010 to €4.7bn, a rise of 4% in organic terms and 8.1% in terms of current exchange rates.
Sales in the consumer segment of the group, which includes the major Nivea business, rose 2.3% in organic terms and 6.3% at current rates to some €4.05bn. Pre-tax group profits went up 24.6% from €435m to €541m in the first nine months and post-tax profits expanded by 22.2% to €353m.
Beiersdorf says 2010 has shown marked economic recovery and it is being assumed that there will be further global economic stabilisation. Modest overall growth is expected in the US, western Europe and Japan but growth in Asia, eastern Europe and Latin America shows all the signs of being dynamic. The worldwide cosmetics market has picked up this year though only modest growth is expected in the saturated west European market and the trend in the US is expected to be slightly negative.
The strongest growth in the cosmetics segment continues to come from Asia and Latin America.
