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This article was originally published in The Rose Sheet

Executive Summary

In preliminary first quarter results, Dusseldorf, Germany company announces that the cosmetics and toiletries business achieved organic sales growth of 3 percent to about $939 million, and operating profit advanced 3.4 percent to $117.4 million. A 19 percent decrease in organic sales of the adhesives technology business dragged total organic sales down 7 percent to $4.24 billion, though net sales increased 3 percent. Operating profit declined 32.8 percent to $280.4 million. Though the firm says it is dissatisfied with its results, it has the strength to emerge from the difficult economic environment and believes 2009 will be a "major step towards achieving our long-term targets.



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