Aug 5, 2010
Beiersdorf strong results from adhesives unit Tesa
Aug 5, 2010
© 2010 AFP - The German chemical and cosmetics group Beiersdorf, maker of Nivea creams and Tesa tape, posted stronger second-quarter results on Thursday thanks mainly to a pick-up in adhesive activities, it said.
Beiersdorf's net profit climbed by 43 percent to 127 million euros (167 million dollars), on sales that gained 55 percent to 1.63 billion, a statement said.
Tesa, which offers both household and industrial products, benefited from a global economic rebound, while results from the cosmetics and other consumer products division was mixed from one region to another, a statement said.
"Overall, they are not yet back on the dynamic growth path of recent years," it noted.
Sales were slower notably in Germany and eastern Europe, but followed an upward trend in Latin America and Asia.
Demand was also strong in Russia and North America, Beiersdorf said.
In the first six months of the year, its Tesa unit generated sales of 429 million euros, an increase of 18.8 percent, with demand particularly strong from the automotive and electronics sectors.
On Wednesday, German rival Henkel presented similar findings with a quarterly result that was also pulled up by its adhesives division.
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