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Henkel: reports record annual sales and earnings; shares up

(CercleFinance.com) - German consumer goods group Henkel reached record levels in terms of sales and earnings in 2017, achieving its financial targets for the year.

The Dusseldorf-based maker of Persil laundry detergent and Schwarzkopf hair care products also achieved record margins, with its EBIT margin rising 40 basis points to 17.3% over the year.

Sales increased 7%, for the first time exceeding the threshold of 20 billion euros, with organic growth reaching 3.1%.

Analysts said adhesives drove this strong performance.

Indeed, Henkel's adhesive technologies unit delivered organic sales growth of 5% in 2017.

For 2018, Henkel said it expected to generate organic sales growth of 2% to 4%, with sales growth at each business unit in this range.

All these announcements made Henkel the sharpest riser on Frankfurt's DAX index this morning, with the stock up 1% at 107.5 euros.

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