GERMANY: Henkel profit beats estimates on acquisitions and dollar boost | Progresiv
Henkel, the maker of Loctite glue and Schwarzkopf shampoo, reported first-quarter profit which beat analyst estimates as the strong dollar and a string of acquisitions boosted earnings. 
Adjusted earnings before interest and taxes jumped 12 per cent to 707 million euros, the Düsseldorf-based company said in a statement. “We achieved our highest quarterly sales to date, thanks to good organic sales growth, the impact of last year’s acquisitions and the strong US dollar,” chief executive officer Kasper Rorsted said in the statement.
Henkel reiterated its forecast for sales to grow 3 per cent to 5 per cent on an organic basis in 2015, with adjusted Ebit representing 16 per cent of sales and an increase in adjusted earnings per preferred share of about 10 per cent. The margin was 15.8 per cent last year. (www.esmmagazine.com)
