Nivea-maker Beiersdorf reports strong first quarter

FILE PHOTO: An employee examines the covers of a Nivea skin cream cover during a quality control inspection at production line of German company Beiersdorf AG in Hamburg, February 12, 2015. REUTERS/Fabian Bimmer - Copyright Fabian Bimmer(Reuters)

By Reuters

Published on 01/05/2019 - 02:09•Updated 18/04/2024 - 10:19

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BERLIN (Reuters) - German consumer goods firm Beiersdorf reported a strong start to the year on Tuesday on healthy sales of its Nivea skin cream after its new chief executive launched a new strategy to help the firm compete with niche brands.

Beiersdorf said first-quarter sales came in at 1.947 billion euros (£1.7 billion), a rise of 6 percent after stripping out currency effects and acquisitions, ahead of average analyst forecasts for 1.888 billion.

Its consumer business grew 6.8 percent, although its Tesa adhesives business expanded just 2.2 percent. Beiersdorf said it confirmed its guidance for 2019 despite ongoing economic risks.

(Reporting by Emma Thomasson; editing by Thomas Seythal)

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