Henkel Profit Rises on Growth at Both Business Units
By Pierre Bertrand
Henkel said first-half net profit soared after a strong performance, driven by growth at both of its business units.
The German chemical and consumer-goods company said it made 1.03 billion euros ($1.13 billion) in net profit for the period compared with 564 million euros a year ago. Sales fell 1% to 10.81 billion euros, in line with preliminary figures released last month, and grew 2.9% organically.
Henkel, the owner of brands including Persil and Schwarzkopf, confirmed that the result was driven by its consumer brands business, where sales grew 4.3% organically. Meanwhile, sales at its adhesive technologies business grew 2% organically, driven by the mobility and electronics and the craftsmen, construction and professional business areas, the company said.
The company stuck to the guidance it raised last month, reiterating that its sales were boosted by higher pricing.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
August 13, 2024 02:10 ET (06:10 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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