BERLIN — Germany’s Henkel AG & Co. registered double-digit profit growth in the third quarter on a low comparable base from the previous year.
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Henkel said Wednesday its net profit for the quarter ending Sept. 30 spiked 70.3 percent to 172 million euros, or $246 million at average exchange rates for the period. Last year, the company booked significant restructuring charges that eroded profits. Sales fell 7.3 percent to 3.49 billion euros, or $4.99 billion.
The company said its operating profit grew 51.8 percent to 290 million euros, or $298.9 million, in line with last month’s forecast. Henkel specified that its “adjusted” operating profit, accounting for one-time items and restructuring charges, fell 1.5 percent to 385 million euros, or $550.6 million.
“The encouraging results registered in this last quarter reflect both the stabilization in our markets and our programs on structural and cost alignment,” Henkel chairman Kasper Rorsted stated.
The Düsseldorf-based firm’s cosmetics and toiletries division reported organic sales growth of 3.7 percent, adjusting for foreign exchange and acquisitions and divestments. The unit, which includes brands Dial, Fa and Schwarzkopf, benefited from the launches of Dial Anti-oxidant in body care and Diadermine 3D Deep Wrinkle Expert in skin care. Operating profit for the division rose 3.3 percent to 99 million euros, or $141.6 million.
The company’s laundry and home care division posted an organic sales increase of 2.4 percent. However, Henkel’s adhesive technologies division saw a drop of 7.6 percent in organic sales terms.