Henkel posts larger than expected Q3 profit

German consumer goods firm Henkel posted a larger than expected rise in third-quarter profit as sales in North America and Russia more than offset continued weakness in its Chinese adhesives business.
Henkel shares soared as much as 8.5 percent to a three-month high of 103.75 euros, outperforming the German blue-chip index DAX and other European consumer goods firms. andquotThe companyand’s third-quarter results are providing evidence of Henkeland’s often underestimated resilience stemming from the groupand’s geographical diversification, strong pricing power and the ability to quickly adapt its cost structure,andquot Nomura analysts wrote in a note to clients. The maker of Schwarzkopf hair care product896.htm
SOURCE: TODAY’S ZAMAN

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