05 August 2009 09:40 [Source: ICIS news]
LONDON (ICIS news)--Henkel’s second-quarter net profit increased more than threefold year on year to €143m ($207m) due to lower restructuring charges, said the German adhesives and soap maker on Wednesday.
The company had spent €256m on restructuring charges in the 2008 second quarter, compared with only €25m in the same period this year.
The company’s sales fell 5% on the same period last year to €3.5bn, while its operating profit increased from €113m to €279m.
“Again in the second quarter of 2009, Henkel felt the effects of the continuing world economic recession,” said Kasper Rorsted, chairman of the Henkel’s management board.
The company declined to give a 2009 outlook, citing the “continuing uncertainties” of the market, but said it would give qualified expectations as soon as the markets allowed for reasoned assumptions.
“We remain firmly convinced 2009 will not be a lost year. Rather, it will be a major step toward achieving our long-term objectives,” said Rorsted.
The Laundry & Home Care and Cosmetics & Toiletries businesses both increased sales and operating profit in the second quarter.
The company said Laundry & Homecare’s second-quarter operating profit increased 29% year on year to €119m and that the biggest brands - Persil and Purex - had “disproportionate organic growth”.
The Cosmetics & Toiletries sector's operating profit increased 3% to €100m.
However, the Adhesive Technologies sector did not fare as well – its operating profit fell 51% year on year to €95m.
($1 = $0.69)
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