BERLIN – Beiersdorf’s profits after taxes fell 9 percent in the third quarter to 100 million euros, or $143 million.
Sales at the German consumer products maker dipped 3.1 percent to 1.4 billion euros, or $2.02 billion. Dollar figures are converted at average exchange rates for the period.
The strong showing caused Beiersdorf to raise guidance for the year. Thomas-B. Quaas, chairman of the company’s executive board, estimates its consumer segment business will grow faster than the market and gain market share.
“We are expecting an EBIT margin for the consumer business segment of roughly 11 percent,” he stated.