Beiersdorf: shares jump after strong start to 2019
(CercleFinance.com) - Germany's Nivea cream maker Beiersdorf on Tuesday reported a "strong start" to the year and confirmed its guidance for 2019.
In the first three months of the year, group sales rose to 1.95 billion euros, up 7.8%, with organic growth of 6% - well above expectations.
Its consumer business posted organic sales growth of 6.8% over the first three months of the year, compared to the consensus of just 4%.
For 2019 as a whole, Beiersdorf expects to report sales growth of around 3%-5%, although the company did mention "continuing economic risks."
Still, the shares of the Hamburg-based company were largely outperforming the weaker German market on Tuesday, up 3.2%, while the blue-chip DAX index was down 0.2%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In the first three months of the year, group sales rose to 1.95 billion euros, up 7.8%, with organic growth of 6% - well above expectations.
Its consumer business posted organic sales growth of 6.8% over the first three months of the year, compared to the consensus of just 4%.
For 2019 as a whole, Beiersdorf expects to report sales growth of around 3%-5%, although the company did mention "continuing economic risks."
Still, the shares of the Hamburg-based company were largely outperforming the weaker German market on Tuesday, up 3.2%, while the blue-chip DAX index was down 0.2%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.