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Nivea-maker Beiersdorf says business improved significantly

BERLIN, Oct 28 (Reuters) - German consumer goods firm Beiersdorf, best-known for its Nivea skin cream, said on Wednesday its business significantly improved in the third quarter after the coronavirus pandemic caused a revenue drop in the first half.

Sales for the first nine months came in at 5.7 billion euros ($6.74 billion), the Hamburg-based company said, a decline of 8.5% on the year after the pandemic-induced slump.

“We expect sales growth of the Beiersdorf group for the full year 2020 to be at year-to-date level or slightly better,” it said.

Beiersdorf expects operating profit (EBIT) margins to be significantly below prior year’s level, it added. ($1 = 0.8461 euros) (Reporting by Thomas Seythal, editing by Emma Thomasson)

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