Economy Nivea-maker Beiersdorf reports strong first quarter

Nivea-maker Beiersdorf reports strong first quarter

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Nivea-maker Beiersdorf reports strong first quarter

 German consumer goods firm Beiersdorf reported a strong start to the year on Tuesday on healthy sales of its Nivea skin cream after its new chief executive launched a new strategy to help the firm compete with niche brands.

Beiersdorf said first-quarter sales came in at 1.947 billion euros (£1.7 billion), a rise of 6 percent after stripping out currency effects and acquisitions, ahead of average analyst forecasts for 1.888 billion.

Its consumer business grew 6.8 percent, although its Tesa adhesives business expanded just 2.2 percent. Beiersdorf said it confirmed its guidance for 2019 despite ongoing economic risks.

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