German consumer goods giant Henkel has laid out plans to grow turnover from €15.6bn in 2011 to €20bn by 2016.

The owner of the Persil and Schwarzkopf brands set the goal in a strategic update released alongside its third quarter results this morning.

Henkel said it would increase CAPEX by 40% over the next four years to support growth and efficiency opportunities. It added that mergers and acquisitions also fitted into its growth strategy.

On the profits side, it set a goal for average adjusted earnings per share growth of more than 10%.

Analysts welcomed the sentiment but said the targets were vague. There was no guidance on margins or organic growth, for example.

“The lack of concrete targets will disappoint some investors,” said Bernstein analyst Andrew Wood. “There is nothing that we see that will change our perspectives on the potential of the company.”

For the third quarter, Henkel reported a 2.5% increase in like-for-like sales to €4.29bn. Sales in the emerging markets grew the fastest and now account for 44% of total sales.

Henkel also reported a 17% increase in adjusted operating profit, to €631m.