By Pietro Lombardi
Beiersdorf AG said Thursday that strong organic sales growth in the first half of the year pushed business above pre-crisis levels and led to higher profit for the period.
The German maker of Nivea skin cream posted net profit of 395 million euros ($467.6 million) for the first half, compared with EUR285 million a year earlier.
Sales rose 12% to EUR3.87 billion. On an organic basis, the top line grew 16%.
"We successfully managed to improve both sales and profitability compared to last year's first half - despite still volatile market conditions," Chief Executive Vincent Warnery said.
Looking ahead, the company expects to achieve sales growth in the high single-digit range this year, with earnings before interest and tax margin seen at the previous year's level.
Write to Pietro Lombardi at email@example.com; @pietrolombard10
(END) Dow Jones Newswires