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Beiersdorf's adhesives unit beats expectations in Q3
November 5, 2013 / 7:22 AM / in 4 years

Beiersdorf's adhesives unit beats expectations in Q3

FRANKFURT, Nov 5 (Reuters) - Beiersdorf, the maker of Nivea creams and lotions, said it had gained market share from rivals in Europe as its adhesives division drove third-quarter results and an increase in its outlook.

The group had late on Monday said it was increasing its outlook for 2013 after group sales rose 7 percent, adjusted for currency effects, in the first nine months.

On Tuesday, it said sales at its Tesa adhesives division rose to 269 million euros ($363.4 million) in the three months to end-September, against expectations for 253 million in a Reuters poll.

Its consumer division reported sales of 1.24 billion euros in the quarter, just under the average forecast for 1.28 billion.

$1 = 0.7402 euros Reporting by Victoria Bryan; Editing by Maria Sheahan

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