Beiersdorf Expects Foreign Growth
The north German drug and medical products company Beiersdorf expects to increase group sales by 8% to 5.14 billion Deutschemarks ($3.4 billion) in 1994, with profits outpacing sales growth. Foreign business is currently providing most of the growth as the German market stagnates.
Group sales rose 10% to 3.95 billion marks in the first nine months of 1994 and the company reports above-average growth in operating profits in the nine-month period.
The company's medical cosmetics division expanded by 14.8% to 2.1 billion marks in the reporting period, achieving double-digit growth despite the sluggish domestic market. The medical division's sales rose 5.4% in the first three quarters, and parent company sales went up 8.4% in the nine-month reporting period.
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