Beiersdorf's sales rise to €5.3bn, profitable growth continues

Beiersdorf powered to a 5.1% increase in organic group sales in the nine months up to the end of September, earning €5.3bn.

The Germany-based personal-care company, which owns the likes of Nivea and Elastoplast, released its latest financial results on Thursday, with European business accounting for over half of its earnings.

In its consumer business segment, growth was particularly strong in eastern Europe, where it enjoyed a rise in sales of more than 10% compared to the same period in 2016.

See also:

• Third quarter profits for Lloyds climb to £2bn, up 141% from 2016
• Profile: Virgin Money's proposed new chairman, Irene Dorner
• Read October's issue of the Business Review Europe magazine

"Beiersdorf has further picked up the pace with strong sales growth in the first nine months of 2017," said its CEO Stefan Heidenreich.

"The company is well positioned with its business model and brands. With our expanded Blue & Beyond strategy we are building a solid foundation for further future success of our company. We look ahead to the coming months with confidence and trust in our strengths."

Looking ahead, the Hamburg company is expecting further growth this year of up to 5%, up from the previous estime of 3-4%.