German personal care maker Henkel has told shareholders it is expecting a better than predicated start to its 2021 trading.
Despite many parts of the world still grappling with the Covid-19 pandemic, Henkel is poised to report an up of its Q1 sales of 7%, double its current market expectations for the quarter of around 3.5%.
However, beauty is expected to be the worst performing category among its business groups, with just a 1% growth, compared with 12.5% for Adhesive Technologies and 3.5% for Laundry and Home Care.
Schwarzkopf, Syoss and Right Guard are among the beauty brands in Henkel’s portfolio.
“Despite the ongoing Covid-19 pandemic, we expect that Henkel will report a very good performance in the first quarter of the year, in particular driven by the Adhesive Technologies business unit,” said Henkel’s CEO Carsten Knobel.
Henkel is expected to provide more details on the period on 6 May.
