Henkel Q2 results up despite competition

FRANKFURT ― German consumer goods manufacturer Henkel fell short of expectations for its Q2 profits, as demand for its adhesives business weakened in North America and China. The company reported organic group sales up 2.4%, as opposed to the forecast 3.4%. North American sales suffered from heavy competition, while China’s slower industrial growth led to lower demand. “This is not a Henkel problem, this is a market problem,” said CEO Kasper Rorsted, who added that he did not foresee significant gains before Q4.