Beiersdorf optimistic for full year despite poor Q1
Nivea products group Beiersdorf has said it expects sales to decline this year largely on account of problems with its industrial adhesives division. Net profits in Q1 2009 fell 30% to €100m while pre-tax profits declined by 26% to €145m. The company's cosmetics activities have been affected by the general economic climate but sales dipped by only 2.5% in the reporting quarter and pre-tax profits in the cosmetics operation fell 16% to €144m. Sales were especially hard hit in North America but the company says it expects overall growth in cosmetics business this year even though an evaluation of market trends is difficult.
Nivea products group Beiersdorf has said it expects sales to decline this year largely on account of problems with its industrial adhesives division. Net profits in Q1 2009 fell 30% to €100m while pre-tax profits declined by 26% to €145m. The company's cosmetics activities have been affected by the general economic climate but sales dipped by only 2.5% in the reporting quarter and pre-tax profits in the cosmetics operation fell 16% to €144m. Sales were especially hard hit in North America but the company says it expects overall growth in cosmetics business this year even though an evaluation of market trends is difficult.