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Henkel targets 10-percent earnings hike

By Patrick Raleigh UT On-line/news editorDüsseldorf, Germany-Henkel Group expects to achieve organic sales growth of 3 to 4 percent and an increase in operating profit of over 10 percent in 2004, according to a 2 Feb group statement. The forecast accompanied the group’s 2003 results, which showed a 6.0-percent rise in operating profit (EBIT) to Euro706 million on sales of Euro9436 million, down 2.3 percent on the previous year. Henkel’s Consumer and Craftsmen Adhesives business posted a 14.6-percent increase in operating profit to Euro141 million, on 2003 sales of Euro1313 million-0.3-percent lower than in 2002. Excluding foreign exchange effects, the adhesives unit’s earnings were 24.1 percent higher than the previous year, said Henkel. “

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