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Beiersdorf hikes sales, profit margin targets for 2013
November 4, 2013 / 9:57 PM / 4 years ago

Beiersdorf hikes sales, profit margin targets for 2013

Nivea products of German company Beiersdorf AG are pictured in Hamburg, October 31, 2012. Picture taken October 31. REUTERS/Fabian Bimmer

FRANKFURT (Reuters) - Beiersdorf (BEIG.DE), the maker of Nivea creams and lotions, said it was upgrading its sales and profit outlook for the year after reporting a 7 percent increase in nine-month sales.

The group said it now expected sales in 2013 to rise by 6-7 percent, compared with a previous forecast for 5-6 percent.

Its EBIT margin - earnings before interest and tax as a percentage of sales - should reach 13 percent this year, at the top end of a previously announced range of 12-13 percent, it said.

It confirmed the EBIT margin in its main Consumer Business segment would be above 12 percent this year, and said the adhesives division, Tesa, would now reach a margin of 16 percent, up from a previous 14 pct.

Under Chief Executive Stefan Heidenreich, Beiersdorf has been cutting unprofitable ranges and focusing on bringing out new products, like an in-shower moisturizer and a new anti-ageing range.

The group is due to publish full nine-month results on Tuesday.

Reporting by Victoria Bryan and Christiaan Hetzner; Editing by Robin Pomeroy

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