Henkel ups margin forecast after better than expected Q3 profit

FRANKFURT Tue Nov 12, 2013 1:40am EST

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)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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