BERLIN (Reuters) -Nivea maker Beiersdorf raised its full-year sales guidance on Wednesday, as it reported a 11.2% hike in organic group sales in the first nine months, driven by its consumer business unit.
The German company now expects organic sales growth in the low-double-digit range versus the mid- to high-single-digit range growth it had forecast previously.
Organic group sales came in at 7.3 billion euros in the first nine months of the year, 11.2% higher than the figure it reported for the same period a year earlier.
Organic sales in the consumer business segment rose 13.6% year-on-year.
“Our iconic brands Nivea, Eucerin, and Aquaphor are leading the way with broad-based, double-digit growth rates, driven by impactful global and local initiatives,” said CEO Vincent Warnery.
The only Beiersdorf brand to see a sales contraction was La Prairie, where sales dropped by 15.8% in the first nine months due to the negative influence of the so-called daigou reselling business in China and Korea, the company said.
(Reporting by Matthias Inverardi, Writing by Friederike Heine, Editing by Miranda Murray)