Henkel ups EPS target as prices increase

FRANKFURT Wed Aug 1, 2012 1:35am EDT

FRANKFURT Aug 1 (Reuters) - German consumer goods group Henkel increased its outlook for earnings per share in 2012 thanks to planned price rises for its products, which range from Schwarzkopf hair products to Loctite glue, and ongoing cost measures.

The group, which also makes Right Guard deodorants and Persil in most of Europe, reported second quarter adjusted operating profit of 609 million euros, compared with the average analyst forecast of 590 million.

Sales matched expectations at 4.21 billion.

Henkel said it now expected earnings per share to rise around 15 percent in 2012, up from a previous forecast of at least 10 percent.

Other consumer goods firms have had a tricky time of late, with Procter & Gamble warning on profit and Reckitt Benckiser suffering from tough trading in southern Europe.

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