Schwarzkopf and Sellotape brand owner Henkel has reported better than expected first-quarter profits.
The German consumer goods giant said profit before tax increased 9% to €600m during the quarter, beating analyst expectations of a 7% increase.
It also reported a 2.5% increase in like-for-like sales to €4.033bn.
The laundry, home care and beauty care sides of the business fared better than the adhesives division. Like-for-like laundry and home care sales shot up 8%, beauty care sales rose 4% and adhesives sales fell 1.2%.
Despite the differing performance of the three business units, Henkel said it expected each to grow within the range of 3% to 5% during fiscal 2013.
“We expect the global economic environment to remain difficult. However, we anticipate industrial demand to improve during the second half of the year. Given the challenges in our global market environment, we will continue to further simplify and accelerate our processes in order to increase our flexibility and efficiency,” said Henkel CEO Kasper Rorsted.
Henkel shares rose 3.6% to €62.32 in early trading on Wednesday.
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