Beiersdorf optimistic on future despite China challenges
Nivea maker Beiersdorf reported on Thursday a rise in group sales for the first nine months of 2024, and said it expected a strong fourth quarter, despite persisting challenges in the Chinese luxury market. Shares in the company rose 3.9%, to 132 euros in early trade, with analysts pointing to management confidence in the quarters ahead. "We expect strong performance overall in the fourth quarter," CEO Vincent Warnery said in a statement, flagging however that the luxury market, especially in China, continues to be challenging.