Henkel reports near-doubling of Q3 net profit to €337m

10 November 2010 07:56  [Source: ICIS news]

SINGAPORE (ICIS)--Henkel's third-quarter net profit nearly doubled year on year to €337m ($468m) on the back of strong contributions from its adhesive technologies business, the German adhesives and soaps maker said on Wednesday.

Sales in the September quarter rose by 13.7% year on year to €3.96bn, with operating profit jumping by 73% to €501m, Henkel said in a statement.

The adhesive technologies segment contributed nearly half of Henkel’s total revenues at €1.95bn, up by 19.3% year on year, while its operating profit tripled to €268m, it said.

For the first nine months of 2010, Henkel’s net profit more than doubled to €869m, with sales up by 11.1% at €11.4bn, the company said.

Henkel said that it expected an increase in costs for raw materials, packaging, contract manufacturing and traded goods of around 7% in 2010.

($1 = €0.72)

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By: Nurluqman Suratman

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