Beiersdorf Profit Boosted by Strong Sales in Latin America

By Ellen Emmerentze Jervell

FRANKFURT--Beiersdorf AG (BEI.XE), maker of Nivea skin care products, said Wednesday its net profit rose in the second quarter, reflecting increased sales and market share gains.

The German company said net profit was up 19% in the three months ended June 30 compared with the same period a year earlier, hitting EUR169 million ($183.9 million). Earnings were boosted by 10% sales growth in Latin America and market share gains all over the world. Sales rose 7.7% on the year to EUR1.7 billion.

"Our corporate strategy has proved itself in a challenging market environment," Chief Executive Stefan Heidenreich said.

Beiersdorf, which according to Euromonitor is the world's second biggest player in the global skin care industry, saw growth especially in the Americas region in the first half of the year; its sales in the Europe region rose slightly, and Africa, Asia, Australia region sales were flat.

The company confirmed its outlook for the year. Beiersdorf said it expects sales growth in the consumer business segment to be between 3-5% in 2015, with the margin on earnings before interest and taxes from operations rising slightly compared with the previous-year level.

Write to Ellen Emmerentze Jervell at [e-mail]

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