* Q2 sales 4.29 bln eur vs Rtrs poll avg 4.30 bln
* Q2 opg profit 660 mln eur vs poll avg 646 mln
* CEO says emerging markets remain strong for Henkel
* Says in no rush for acquisitions
FRANKFURT, Aug 8 German consumer goods company
Henkel, which makes washing powder, shampoos and
cleaning products, joined rivals in taking a more cautious view
of growth in emerging markets.
It said on Thursday it had revised its growth forecast for
emerging market economies downwards slightly and now expected
consumer spending in those countries to rise by 4 percent in
2013, compared with a previous forecast for 5 percent.
The firm, which makes Persil washing powder in Germany and
Schwarzkopf hair products, however maintained its group profit
and sales targets for 2013 and Chief Executive Kasper Rorsted
said emerging markets remained its driving force in the quarter.
Faced with recession-hit demand at home, European firms have
been expanding heavily in emerging markets, which are expected
to account for a third of sales this year, according to a Morgan
Stanley analysis of 505 leading European groups.
That has attracted investors - but it makes businesses
vulnerable if the boom loses momentum.
Henkel's rival Unilever last month spoke of slowing
growth in emerging markets, and Beiersdorf on
Wednesday said there were concerns among consumer goods
Henkel's overall sales from emerging market countries rose
8.9 percent year-on-year in the second quarter, adjusted to
strip out the effects of currency movements and acquisitions.
They now account for 45 percent of sales, compared with 43
percent a year ago.
The sales increase accelerated slightly from 8.2 percent
growth in the first quarter and an 8.1 percent rise in the
second quarter of 2012.
Rorsted said sales growth in Brazil, India and China was
above 10 percent, while growth remained strong in Russia.
Henkel's shares rose 3 percent to 76.86 euros, making it the
fourth-biggest gainer on the Dax index of leading German shares,
which rose 1 percent. The company was the second highest gainer
among shares of European personal and household goods firms
"The company printed another robust set of numbers. We
expect consensus estimates (for full-year results) to be revised
up by around 1-2 percent this morning," Nomura analyst Guillaume
Delmas wrote in a note.
Henkel expects earnings per share to rise 10 percent this
year, adjusted for one-off items and restructuring charges, and
sales to rise between 3 and 5 percent.
Henkel has around 4 billion euros ($5.3 billion) available
for acquisitions and recently said it was looking at around 80
different targets. Analysts expect Henkel will announce a deal
this year, possibly in the United States.
Henkel's last major purchase was that of National Starch in
2008 for 3.7 billion euros to expand its adhesives division.
Responding to questions from journalists, Chief Financial
Officer Carsten Knobel said the group was in no rush.
The group reported second-quarter sales of 4.29 billion
euros, up 4 percent adjusted for currency effects and driven by
emerging markets, and an 8 percent gain in operating profit to
660 million euros.
That compares with expectations for 4.30 billion euros and
646 million euros in a Reuters poll.