The German Henkel concern saw its profit fall last quarter. The parent company of brands such as Schwarzkopf, Persil and Pritt again spoke of difficult market conditions but repeated its recently downward revised expectations for the whole year.
Henkel has, among other things, spent extra money on marketing to beat competition from rivals such as Procter & Gamble. The company also feels the difficult conditions on the industrial sales market, such as the automotive sector.
Henkel recorded an operating result (EBIT) of 774 million euros. That was 833 million euros a year earlier. Henkel attributes this decline, among other things, to the extra investments it has had to make in its consumer goods and digital amplification division. Henkel’s turnover increased slightly, to almost 5.4 billion euros. But there was a contraction on its own.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.
