Profit of Germany's Henkel increases 23.8 percent in 2nd quarter

Germany's Henkel, which makes detergents, cosmetics and adhesives, said on Wednesday that its profit in the second quarter of 2006 increased 23.8 percent over a year ago.

The company said that the net earnings for the quarter after minority interests amounted to 243 million euros (311 million U.S. dollars) and the earnings of per preferred share rose by 23.7 percent to 1.70 euros (2.18 dollars).

Henkel reported sales of 3,230 million euros (4,134 million dollars), an increase of 7.3 percent in the period, and its organic growth was a "very encouraging" 6.1 percent.

"Following a good start to the year, we have enjoyed further success in the second quarter with all our business sectors contributing to a highly gratifying organic growth rate," said Ulrich Lehner, the chairman of the management board of Henkel.

"I am therefore very confident we will achieve the targets we have set for ourselves for the full fiscal 2006," he added.

The company also said it expected its operating profit to grow by around 10 percent after adjusting to foreign exchange for the whole year 2006.

Source: Xinhua