Tissue maker Essity’s profit grows more than expected on increasing hygiene awareness

October 22, 2021

STOCKHOLM (Reuters) – Hygiene products maker Essity reported a higher-than-expected rise in quarterly profit on Friday, thanks to better market conditions and growing awareness of the importance of hygiene.

Third-quarter operating earnings at the Swedish group grew to 3.88 billion crowns ($451.1 million) from 3.82 billion crowns a year earlier, while sales grew 9%, with organic sales rising 7%. Five analysts polled by Refinitiv had on average had estimated a profit of 3.38 billion.

Compared with the pre-pandemic third quarter of 2019, organic sales were up 2%.

Essity now aims for net sales, including acquisitions, of more than 5%. It had earlier set organic sales growth target of more than 3%.

Essity is the global leader in hygiene products for businesses under the Tork brand, and in incontinence products with TENA. It is the world’s second-biggest maker of consumer tissue toilet paper and handkerchiefs with brands such as Lotus, Edet, Tempo and Vinda.

($1 = 8.6021 Swedish crowns)

(Reporting by Anna Ringstrom; Editing by Helena Soderpalm and Vinay Dwivedi)

Source Link Tissue maker Essity’s profit grows more than expected on increasing hygiene awareness

Tajammul Pangarkar

Tajammul Pangarkar is a tech blogger, and has contributed to numerous tech magazines. Tajammul longstanding experience in the field of mobile technology and industry research is reflected in his insightful news articles as presented on News.market.us. His interest lies in understanding the tech trends, mobile applications and technical consciousness on these increasingly consumer-oriented industries. When he is not ruminating about the tech world, he can be found playing table tennis or hanging out with his friends.