On Wednesday, Henkel raised its annual earnings per share and margin targets, following a performance described as "very solid" in the first half of the year.

The German manufacturer of consumer goods now expects its adjusted earnings per preferred share to rise by 20% to 30% at constant exchange rates, compared with a previous range of 15% to 25%.

Its operating margin is now expected to be between 13.5% and 14.5%, compared with a previous forecast of 13% to 14%.

According to its preliminary results published today, the Group generated sales of 10.8 billion euros in the first six months of the year, representing organic growth of 2.9%.

Its adjusted operating profit (Ebit) rose by 28.4% to 1.6 billion euros over the period, giving EPS of 2.78 euros, up 32.9% at constant exchange rates.

Henkel - best known for its Le Chat, Mir and Persil laundry detergent brands - highlighted the positive effects of its decision to group its consumer staples brands within a single division.

He also referred to the implementation of strategic measures that have boosted sales, profit margins and earnings, starting with an increase in investments that is set to continue over the coming months.

On the Frankfurt Stock Exchange, Henkel shares were up 0.7% this afternoon, with some analysts disappointed by the company's continued forecast of organic growth of between 2.5% and 4.5% for 2024.

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