BERLIN – German shampoo and glue maker Henkel AG (HEN.XE) said Thursday that revenue and profit rose in the first quarter after the acquisition of Sun Products Corp.
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Net profit increased? 14% to 597 million? euros ($649 million)? in the January-to-March period, with all business units and regions contributing to the "successful development," said the maker of Dial soap and Persil detergent. Revenue grew 14% on year to EUR5.06 billion ($5.5 billion). Adjusted earnings before interest and tax was EUR854 million, beating analysts' consensus estimate of EUR842 million.
Henkel said the market environment was challenging, predicting increased pricing pressure in the consumer-goods market and higher commodities prices. The company nevertheless confirmed its outlook for the full year and continues to expect 7%-9% growth in adjusted earnings per preferred share.
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(END) Dow Jones Newswires
May 11, 2017 02:16 ET (06:16 GMT)