By Joshua KirbyHenkel AG & Co. lifted its expectations for the year after higher prices boosted sales in the third quarter. Organically, growth was driven by higher prices, especially in the consumer division, while volumes sank in both businesses. Henkel now expects a slightly higher range in its sales growth for the year, it said, forecasting organic growth of 3.5%-4.5% from 2.5%-4.5% previously. Similarly, the operating margin should stand at 11.5%-12.5%, versus a previous forecast of 11.0%-12.5%, Henkel said. Last year, Henkel made sales of EUR22.4 billion, with an operating margin of 8.1%.

Source: Wall Street Journal November 11, 2023 02:20 UTC