Henkel Q1 net profit more than doubles to €266m, sales up 7.8%

05 May 2010 08:23  [Source: ICIS news]

SINGAPORE (ICIS news)--Henkel posted a first-quarter net profit of €266m ($345.5m), more than double the €121m it achieved in the 2009 first quarter, boosted by the performance of its adhesive technologies business unit, the Germany-based producer said on Wednesday.

The adhesive technologies business unit's first-quarter operating profit of €185m was almost quadruple that from the same period of 2009, Henkel said in a statement.

Henkel's overall first-quarter sales increased 7.8% year on year to €3.51bn, while adjusted operating profit surged 79.1% year on year to €421m.

Looking ahead, the company said it was confident of “outperforming its relevant markets in terms of organic sales growth”.

Henkel added that it expects its 2010 adjusted operating profit to show an improvement of more than 15% compared with the whole of 2009.

In 2009, the company’s overall adjusted operating profit fell 6.6% year on year to €1.36bn, primarily due to weakness in its adhesive technologies segment.

($1 = €0.77)

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By: Nurluqman Suratman

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