German consumer goods firm Beiersdorf reported a fall in sales of adhesives to the auto industry in the third quarter but new products boosted its skin care business which held up better than expected.
German consumer goods firm Beiersdorf reported a recovery in sales of its Nivea skin cream and its premium La Prairie brand in the first quarter after a new chief executive pledged more investment to fight niche brands.
Beiersdorf said it snatched market share away from rivals as it posted a 6 percent rise in organic group sales in the first nine months, boosted by strong performances at both its Consumer and Tesa businesses.
Beiersdorf, the maker of Nivea cream and Tesa adhesives, raised its guidance for 2016 earnings on Thursday on strong third-quarter sales at its consumer business, turning around a disappointing first half of the year.
Germany's Beiersdorf, the maker of Nivea skin cream, on Wednesday reported weaker-than-expected underlying sales growth as weak demand from the electronics industry in Asia hit its Tesa adhesives business.
Nivea skin cream maker Beiersdorf raised its margin guidance for 2015 after it posted a 55 percent increase in its third-quarter operating profit as new products and higher prices boosted profitability.