Beiersdorf: share up after good start to year
(CercleFinance.com) - The share of German skin care specialist Beiersdorf is up in Frankfurt on Wednesday, the biggest winner in the DAX, after it reported a good start to the year.
At 3:30 p.m., shares of the owner of Nivea cream and La Prairie luxury formulas were up over 2%, outperforming a 0.3% decline in the DAX 30 index.
Beiersdorf reported 6.3% organic sales growth in the first quarter on Wednesday, well above analysts' expectations of just a 3% increase in like-for-like sales.
Its subsidiary Tesa, which manufactures adhesives for industry, posted sales that are up 23.6% in organic terms, thanks to strong demand from the electronics and automotive sectors.
Although the Hamburg-based group says that it is still difficult to provide a forecast for the 2021 financial year due to what is considered to be "limited" visibility due to the pandemic, it says that it is still aiming to report sales growth this year.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
At 3:30 p.m., shares of the owner of Nivea cream and La Prairie luxury formulas were up over 2%, outperforming a 0.3% decline in the DAX 30 index.
Beiersdorf reported 6.3% organic sales growth in the first quarter on Wednesday, well above analysts' expectations of just a 3% increase in like-for-like sales.
Its subsidiary Tesa, which manufactures adhesives for industry, posted sales that are up 23.6% in organic terms, thanks to strong demand from the electronics and automotive sectors.
Although the Hamburg-based group says that it is still difficult to provide a forecast for the 2021 financial year due to what is considered to be "limited" visibility due to the pandemic, it says that it is still aiming to report sales growth this year.
Copyright (c) 2021 CercleFinance.com. All rights reserved.