Nov 4, 2008
Nivea maker Beiersdorf expects to meet 2008 targets
Nov 4, 2008
FRANKFURT, Nov 4, 2008 (AFP) - The German cosmetics group Beiersdorf, maker of Nivea creams, said Tuesday, October 4th it would meet its 2008 targets despite a drop in third quarter net profit.
"We remain optimistic that we will meet our targets for 2008," chairman Thomas-B. Quaas said in a statement.
In the three months from July to September, net profit fell by 17 percent to 110 million euros (138 million dollars), though the year-earlier figure had been boosted by one-off fiscal items.
Hamburg-based Beiersdorf said sales had grown by 15 percent to 1.5 billion euros, however.
Operating profit edged slightly higher to 154 million euros, but was below an average forecast by analysts polled by Dow Jones Newswires of 162 million euros.
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