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Henkel: raises outlook for 2017; shares down.

(CercleFinance.com) - Henkel, the German maker of Mir detergent and Schwarzkopf hair care products, raised on Tueday its 2017 target after a "strong" performance in the third quarter.

The Düsseldorf-based firm said adjusted earnings per preferred share (EPS) should rise by around 9% this year, compared with a previous target of 7% to 9%.

Henkel reported third-quarter adjusted operating profit (EBIT) rose 7.1% to 897 million euros, or 1.54 euro per share, compared with forecasts of around 1.50 euro.

In the third quarter, sales grew by 4.9% to 4.98 billion euros, while organic growth - which excludes the impact of foreign exchange effects and acquisitions/divestments - reached 3%.

"This was mainly driven by adhesives while laundry & home care and beauty remained soft," analysts at Bryan Garnier pointed out this morning.

Henkel shares were down 4.5% at 115.5 euros after these results, while Germany's DAX index was up 0.4%.

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