HENKEL: Another quarter without organic sales growth | NEUTRAL | EUR97(0%)
HENKEL - NEUTRAL | EUR97(0%)Another quarter without organic sales growth
Q3 results in line with expectations
Adhesives: a further deterioration
Challenges in Beauty but an improvement in Laundry & Home
No change to our expectations for the full year
Neutral reiterated
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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