Henkel Q1 underlying profit beats consensus
FRANKFURT May 19 (Reuters) - Germany's Henkel <HNKG_p.DE, maker of Schwarzkopf shampoo and Loctite glue, reported faster-than-expected growth in quarterly underlying operating profit on Thursday, helped by demand in North America and China.
Adjusted earnings before interest and tax (EBIT) rose 6.2 percent to 751 million euros ($842 million) in the three months through the end of March, beating consensus for 731 million euros in a Reuters poll.
Banking on demand for beauty care products such as Fa deodorant or Dial soap in emerging markets like China and Mexico, Henkel affirmed guidance for steady organic sales growth for 2016 at 2 to 4 percent compared with 3 percent in 2015.
The group also still expects its margin on adjusted EBIT to widen to 16.5 percent this year, from 16.2 percent last year.
($1 = 0.8919 euros) (Reporting by Maria Sheahan; Editing by Tina Bellon)
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