Henkel sees virus boost to cleaning products

German consumer goods group Henkel reported a big jump in first quarter sales of laundry detergents and household cleaners on Monday, but a fall in adhesives and in beauty care as hair salons closed due to the coronavirus.

Overall, sales for the group that makes Persil detergent and Schwarzkopf shampoo fell 0.8% to 4.9 billion euros ($5.31 billion), just short of average analyst forecasts for 4.96 billion, a decline of 0.9% after stripping out the effect of currencies and acquisitions.

Henkel said its laundry and home care business saw organic sales jump 5.5%, while sales at its adhesives unit which supplies the automotive industry fell 4.1% and beauty care fell 3.9%.

Via Reuters