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Nivea maker Beiersdorf raises 2017 sales guidance

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Nivea maker Beiersdorf raises 2017 sales guidance

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FRANKFURT (Reuters) – Nivea maker Beiersdorf <BEIG.DE> raised its sales guidance for the year on Thursday, citing demand for new products and growth in Asia, especially China. The Hamburg-based company now expects sales to grow by 4 to 5 percent this year, up from a forecast of 3 to 4 percent and compared with analyst consensus for 4 percent in a Reuters poll. Shares in Beiersdorf jumped 4.7 percent to 95.19 euros by 0744 GMT, making them the biggest gainers on the German blue-chip DAX index <.GDAXI>. Its sales grew 5.1 percent on an organic basis to 5.28 billion euros ($6.24 billion) in the first nine months of 2017, beating a consensus of 5.11 billion in a Reuters poll. Powering that rise was growth in the Africa/Asia/Australia region, which accounts for nearly a third of group revenue. “We have been particularly successful in China. That is based on the accelerated activities in e-commerce,” Chief Executive Stefan Heidenreich told analysts on a conference call. Beiersdorf’s growth was a positive surprise after Unilever <ULVR.L> <UNc.AS>, whose Dove products compete with Beiersdorf’s Nivea, last week blamed poor weather in Europe and hurricanes in the United States for disappointing third-quarter sales. Beiersdorf reiterated its guidance for a slight rise in its operating profit (EBIT) margin. ($1 = 0.8462 euros)

(Reporting by Maria Sheahan; editing by Jason Neely)
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