Dec 6, 2012
Nivea maker Beiersdorf raises sales targets again
Dec 6, 2012
FRANKFURTGerman cosmetics group Beiersdorf, maker of Nivea hand cream, said Thursday it was raising its full-year sales targets for the second time in a month on the back of its strong performance so far this year.
Beiersdorf, which also makes Tesa sticky tape and adhesives, said in a statement it is pencilling in sales growth of "well over" four percent.
The group had already increased its sales target at the beginning of November to an increase of "up to four percent."
Beiersdorf said the decision to raise its sales targets further came "on the back of its strong business performance and higher expectations for 2012."
"We're satisfied with how the year has gone so far," said chief executive Stefan Heidenreich.
The statement made no mention of Beierdorf's earnings targets. But on November 2, the group had said it was standing by its forecast for an operating margin - which measures operating profits against sales - of 12 percent.
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