FRANKFURT, Nov 2 (Reuters) - Germany’s Beiersdorf, the maker of Nivea cream, increased its revenue outlook for the year as it reported better than expected third-quarter results.
Beiersdorf has been cutting back on unprofitable products as part of a drive to regain market share and new CEO Stefan Heidenreich has also launched a new round logo for the Nivea brand and focus on overseas markets.
It reported third-quarter sales of 1.5 billion euros ($1.9 billion) and earnings before interest and tax (EBIT) of 184 million euros.
Analysts had expected the group to report third-quarter EBIT of 149 million euros on sales of 1.462 billion, according to a Reuters poll. ($1 = 0.7730 euros) (Reporting by Victoria Bryan)