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Beiersdorf: shares gain after in-line quarter

(CercleFinance.com) - Beiersdorf, the maker of Nivea products, said on Tuesday its sales only rose slightly in the first quarter, in line with analysts' expectations.

In nominal terms, sales amounted to 1.807 billion euros, up 0.4% on the prior-year figure of 1.801 billion euros.

However, organic group sales jumped by 6.5% in the first three months of the year.

While Nivea—the most profitable brand of the German group—saw sales grow no more than 1.9%, sales at La Prairie soared by 55% and adhesive tape business tesa achieved a strong increase in organic sales of 8.5%.

Based on these numbers, group sales growth is expected to be approximately 4% this year with a consolidated EBIT margin from operations at the prior-year level.

Investors are cheered by the news. Shares in the group jumped 2.7 per cent to head the DAX blue-chip index, trading at 97 euros.

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