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Home | News |Henkel net profit up 50% for quarter, 19% for year
Henkel net profit up 50% for quarter, 19% for year
Updated: 2016-02-29 10:11 Source: Market Report Company share:

German consumer goods giant Henkel AG said its fourth quarter profit rose, helped by strong growth at all its business segments, said Marketwatch.

The maker of Persil laundry detergent, Schwarzkopf hair care products and Loctite glue said net profit in the three months ended December was EUR446 million (USD490 million), up 50% compared with the same period a year earlier. The earnings increase was helped by positive sales and profit development at its beauty care, home care, and adhesives divisions. In the comparable quarter a year earlier, Henkel had reported weaker profits due to extraordinary restructuring costs.

Henkel's sales in the fourth quarter came in at EUR4.4 billion, rising from EUR4.1 billion in the same period the year before.

"Despite the difficult economic environment, we delivered a strong financial performance, continued to successfully implement our strategy and laid a strong foundation for our future," said Kasper Rorsted, Henkel's chief executive officer.

Mr. Rorsted, an acclaimed CEO in the German financial community, has helped Henkel improve all its financial measures since taking the helm in 2008. In January, he announced he would be leaving Henkel later this year to become CEO of German sportswear firm Adidas AG.

For the full year 2015, the company reported a 19% rise in net profit, to EUR1.9 billion, on sales of EUR18 billion.

Henkel said it expected its organic sales to grow between 2% - 4% in 2016.

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