Henkel: shares flat after mixed sales report

(CercleFinance.com) - Henkel shares were flat in early trading on Monday as investors unraveled a mixed bag of quarterly figures.


The German maker of Pritt stick glue and Persil detergents said that it reported a "robust" first quarter in a "very challenging market" due to the Covid-19 pandemic.

Its sales, however, slipped 0.9% in organic terms to 4.9 billion euros in the first three months of the year, and were down 0.8% in nominal terms.

Sales at its adhesives unit - which represent almost half of total sales - fell an organic 4.1%, while sales of beauty care brands, such as Schwarzkopf, fell 3.9% in organic terms.

Last month Henkel decided to abandon its outlook for 2020.

On Monday the consumer goods group said that it could not make a "reliable" and "realistic" evaluation of its future business performance.

Henkel shares - which have outerperformed the broader German market this year - were up just 0.1% in early trading.

Copyright (c) 2020 CercleFinance.com. All rights reserved.