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.”
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