Beiersdorf confirms 2016 target in spite of consumer uncertainty

German consumer goods company Beiersdorf, the maker of Nivea skin cream, improved its profit margin in the first half of the year and said it was cautiously optimistic for the year despite economic and political uncertainties knocking consumer confidence.

Sales reached 3.36 billion euros ($3.7 billion) in the first six months of the year, slightly ahead of an analyst forecast for a 1.6 percent decline to 3.35 billion euros.
Organic sales, adjusted for currency, grew by 2.8 percent, carried by a 3.3 percent rise at its consumer branch.

Despite continued weak demand at its adhesives business in Asia, Beiersdorf confirmed its guidance for full year sales growth of 3-4 percent.

$1 = 0.8978 euros