October 29, 2019 / 6:45 AM / a month ago

Beiersdorf sales slow in "challenging, competitive" market

BERLIN, Oct 29 (Reuters) - German consumer goods firm Beiersdorf reported a slight slowdown in sales growth in the third quarter on Tuesday, citing a “challenging and very competitive market environment”, but the Nivea-maker confirmed its outlook for 2019.

Third-quarter sales came in at 1.89 billion euros ($2.09 billion), versus average analyst forecasts for 1.91 billion euros.

For the first nine months, the company reported sales growth of 4.3% after stripping out currency effects and acquisitions, compared to 4.8% in the first half, with organic growth for its core Nivea brand at 3% after 3.2% in the first half. ($1 = 0.9019 euros) (Reporting by Emma Thomasson Editing by Tassilo Hummel)

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