(fxcue news) - German chemical and consumer goods firm Henkel AG & Co. KGaA (HENOY.PK) on Tuesday maintained its recently revised fiscal 2024 outlook after reporting significantly higher profit in its first half, despite slightly lower sales. Organic sales, however, grew from last year, with growth in both business units. Henkel further expects mid- to long-term financial ambition already to be reached mid-term. Henkel CEO Carsten Knobel said, "Following the strong business performance in the first half of the year, we are confident about the remainder of the year and therefore raised our earnings outlook for fiscal 2024 in mid-July. We are delivering what we have committed to, and we are on the right track for further profitable growth. This is also reflected in the adjustment of our mid- to long-term financial ambition: we are confident that we will achieve the sales and earnings targets now already mid-term." For the year, the company now expects adjusted earnings per preferred share to increase in the range of 20 to 30 percent at constant exchange rates. Adjusted EBIT margin at Group level is now expected to be in the range of 13.5 to 14.5 percent. For the current fiscal year, Henkel continues to expect organic sales growth of 2.5 to 4.5 percent. For the mid- to long-term, the company projects mid-term organic sales growth of 3 to 4 percent, adjusted EBIT margin of around 16 percent and adjusted earnings per preferred share growth in the mid- to high single-digit percentage range at constant exchange rates and including acquisitions. The company said the recent outlook revision mainly reflects higher profit expectations in the Consumer Brands business unit. The outlook continues to consider the expectation of higher prices for direct materials in the second half of the year. For the first half, net income attributable to shareholders surged 82.4 percent to 1.03 billion euros from last year's 564 million euros. Earnings per preferred share increased significantly to 2.46 euros from previous year's 1.35 euros. Adjusted earnings per preferred share were 2.78 euros, compared to 2.13 euros in the prior-year period. Adjusted operating profit or adjusted EBIT increased significantly by 28.4 percent to 1.61 billion euros from 1.25 billion euros last year, in particular as a result of the strong increase in gross margin. Adjusted EBIT margin increased by 340 basis points to 14.9 percent from 11.5 percent a year ago. In a persistently challenging market environment, Henkel achieved Group sales of 10.81 billion euros, down 1 percent from prior year's 10.93 billion euros, negatively impacted by the divestment of the business activities in Russia. However, Henkel achieved nominal sales growth of 3.4 percent in the second quarter to 5.50 billion euros from last year's 5.32 billion euros. In organic terms, Henkel achieved good sales growth of 2.9 percent in the first half, and 2.8 percent in the second quarter. The Adhesive Technologies business unit generated good organic sales growth of 2 percent in the first half, driven by the Mobility & Electronics, and the Craftsmen, Construction & Professional business areas. The Consumer Brands business unit achieved very strong organic sales growth of 4.3 percent, to which all business areas contributed. Sales growth in both business units was driven by a positive price development. In Germany, Henkel shares were trading at 78.36 euros, up 0.4 percent. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.