Beiersdorf remains optimistic following Q3 net profit drop

Beiersdorf today released its results for the third quarter 2008, posting a 16.9% decline in net profit to €108m from €130m in the same period of 2007. This was despite a 10.6% rise in sales to €1.46bn.

Despite the drop in net profit, the Hamburg-based company remains positive. “Beiersdorf’s global sales growth remains high at 11.8% despite the strains in the economy,” said chairman Thomas B Quaas, of the period from January to September 2008. “We remain optimistic that we will meet our targets for 2008.”

Beiersdorf’s results come just a week after fellow C&T giant L’Oréal published its slowest quarterly sales growth in a decade, blamed on the decrease in consumer spending.