Posted on 10/11/2008 in Medical Company Financials Beiersdoft has announced that its third-quarter profits have fallen 17 per cent, but however added that it will stay with its forecast for the full year.
Attributed to a difficult current economic climate, the company's net profit from July to September this year fell to 108 million euros (88.17 million pounds), down from 130 million euros a year before.
The organisation however reported that sales in the same period had risen 15.4 per cent, from 1.3 billion euros to 1.5 billion euros.
Thomas Quaas, Chairman of the Executive Board of Beiersdorf, said: "Beiersdorf's global sales growth remains high at 11.8 per cent despite the strains in the economy."
"Our core brands Nivea, Eucerin, and la prairie are doing very well in the market and are recording double-digit sales growth," he added.
The news follows Nivea's above-average growth since the Eastern European markets opened up, which saw the brand's sales in the first half of 2008 increased by a total of 20 per cent.
Beiersdorf employs over 22,000 people worldwide, of which 870 are in research and development (R&D).
Along with a research centre in Hamburg, Germany, the company spent 127 million euros in 2007 on R&D.Other news stories from 10/11/2008
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