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September 22, 2017

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Nivea maker Beiersdorf raises sales targets for full year on strong demand

FRANKFURT -- German cosmetics group Beiersdorf, maker of Nivea hand cream, said Friday it was raising its full-year sales targets after strong demand in emerging markets boosted business in the first nine months.

Beiersdorf, which also makes Tesa sticky tape and adhesives, said in a statement it is penciling in sales growth of up to 4 percent, instead of the increase of 3 percent previously targeted.

In terms of profit, the group said it was standing by its forecast for an operating margin of 12 percent.

Beiersdorf said net profit jumped by 40.8 percent to 107 million euros (US$138 million) in the period from July to September.

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