The Henkel Group, Düsseldorf, Germany, reported an increase of 12.4% in operating profit for the third quarter of 2003 after adjusting for foreign exchange effects.
According to executives, sales rose 3.8% after adjusting for foreign exchange effects. Before adjustment, sales were level from the previous year, at $2.9 billion.
“Despite the encouraging profit increase in the third quarter, we intend to continue working on the optimization of our businesses in order to permanently strengthen our earning power,” said Dr. Ulrich Lehner, president and chief executive officer.
Net earnings for the quarter increased 13.1% to $150.4 million compared to the previous year’s third quarter. Preferred share earnings rose 12.3%, from $0.90 to $1.01, Henkel executives said.