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Beiersdorf 2016 profit and sales rise despite tough environment
March 8, 2017 / 7:15 AM / 8 months ago

Beiersdorf 2016 profit and sales rise despite tough environment

LONDON, March 8 (Reuters) - German consumer goods maker Beiersdorf reported higher annual sales and profit on Wednesday despite what it called a generally difficult market environment, helped by demand for skincare brands such as Nivea, Eucerin and La Prairie.

Its 2016 sales rose to 6.75 billion euros from 6.69 billion in 2015. Before it reported preliminary results in January, analysts had been expecting sales of 6.72 billion euros.

Organic sales rose 3.2 percent.

The Hamburg-based company said group earnings before interest and tax (EBIT) rose to 1.02 billion euros from 962 million euros in 2015. Its margin rose to 15 percent from 14.4 percent in 2015.

Looking ahead, it forecast sales growth of 3 percent to 4 percent and a slight improvement in its EBIT margin. (Reporting by Martinne Geller; editing by David Clarke)

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