BERLIN — Henkel AG & Co. registered an 8.5 percent drop in third-quarter net profits to 314 million euros, or $444.5 million.
The Düsseldorf-based consumer goods and adhesives company said adjusted net profits, which take into account one-time charges, gains and restructuring costs, were up 5.1 percent to 373 million euros, or $528 million, in the quarter.
Dollar figures are converted from euros at average exchange rates for the period.
Operating profits for Henkel in the three months ended Sept. 30 fell 10 percent to 451 million euros, or $638.4 million, while adjusted EBIT rose 4.7 percent.
Henkel's sales grew 1.7 percent to 4.03 billion euros, or $5.7 billion. Adjusted for foreign exchange, revenues gained 5.7 percent.
The firm's cosmetics and toiletries division, which includes the brands Dial, Fa and Schwarzkopf, reported 1.9 percent sales growth to 860 million euros, or $1.22 billion. Its operating profits dipped 1.2 percent to 111 million euros, or $157.1 million.
Henkel slightly raised its guidance for 2011 organic sales growth to between 5 percent and 6 percent from 5 percent. The company confirmed its forecast for an adjusted EBIT of around 13 percent and for adjusted earnings per preferred share of approximately 10 percent.
Looking at the full fiscal year, Henkel chairman Kasper Rorsted stated, "The economic environment remains challenging. In addition to intense competition and high raw material prices, the debt crisis in the Eurozone is bringing additional uncertainty into the markets. Against this background, we will continue to adapt our structures in order to respond more quickly and flexibly to changes in our markets, and maintain strict cost control.”
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.
In honor of Rihanna’s 30th birthday, we took a look back at an interview with the Barbados-native when she was just 18 years old. Here, she talked about her second album, “A Girl Like Me” in 2006. “I want to be me. I want people to fall in love with who Rihanna is, and that’s why I want the album to be about me so people can really find out who this girl Rihanna is, because they only know the ‘Pon de Replay’ girl.” Fast forward 12 years, and she’s released six more albums and has become a powerhouse in both the fashion and music industries. Happy birthday, @badgalriri 🎈(📷: Pavel Antonov) #wwdarchive