Tissue maker Essity’s profit grows more than expected on increasing hygiene awareness
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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 is a CMO at Prudour Pvt Ltd. Tajammul longstanding experience in the fields of mobile technology and industry research is often reflected in his insightful body of work. His interest lies in understanding tech trends, dissecting mobile applications, and raising general awareness of technical know-how. He frequently contributes to numerous industry-specific magazines and forums. When he’s not ruminating about various happenings in the tech world, he can usually be found indulging in his next favorite interest - table tennis.
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