This article was originally published in The Rose Sheet
Executive SummaryIn preliminary first quarter results, Dusseldorf, Germany company announces that the cosmetics and toiletries business achieved organic sales growth of 3 percent to about $939 million, and operating profit advanced 3.4 percent to $117.4 million. A 19 percent decrease in organic sales of the adhesives technology business dragged total organic sales down 7 percent to $4.24 billion, though net sales increased 3 percent. Operating profit declined 32.8 percent to $280.4 million. Though the firm says it is dissatisfied with its results, it has the strength to emerge from the difficult economic environment and believes 2009 will be a "major step towards achieving our long-term targets.
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