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Reuters
Published
May 4, 2011
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Henkel tweaks 2011 sales guidance after strong Q1

By
Reuters
Published
May 4, 2011

May 4 - German consumer goods company Henkel, slightly increased its sales guidance for 2011 after beating expectations with first-quarter results thanks to growth in cosmetics and adhesives.

Henkel
Henkel's headquarters Düsseldorf, Germany

"We are confident that we will again outperform our relevant markets in 2011 and now expect an increase in organic sales at the upper end of the 3-5 percent range," Chief Executive Kasper Rorsted said in a statement on Wednesday.

The group, whose products include Persil detergent, Pritt stick glue and Schwarzkopf hair products, had previously expected to be "within" this range.

For the first quarter, Henkel reported sales up 8.9 percent to 3.82 billion euros ($5.68 billion) and adjusted earnings before interest and tax of 473 million, a 12 percent rise.

Analysts were expecting the group to report sales of 3.74 billion euros, up 6.6 percent and adjusted EBIT of 452 million euros for the quarter, up 7.4 percent.

(Reporting by Victoria Bryan)

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