Henkel ups margin forecast after better than expected Q3 profit
FRANKFURT Nov 12 (Reuters) - Henkel, the German maker of washing powder, shampoos and adhesives, raised its profit margin outlook for the year after a robust adhesives division helped to offset currency headwinds in the third quarter.
Henkel reported better than expected third quarter adjusted earnings before interest and tax (EBIT) of 672 million euros ($901 million), against the average for 659 million euros in a Reuters poll.
The group, who makes Persil washing powder and Schwarzkopf hair products, said it now expected an adjusted EBIT margin of about 15 percent for the year, up from a previous forecast of 14.5 percent.
Sales unexpectedly fell to 4.18 billion euros, against the average forecast for 4.34 billion as currency effects took their toll. ($1 = 0.7459 euros) (Reporting by Victoria Bryan)