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November 12, 2003
By: TOM BRANNA
Editor
German hair care group Wella posted third-quarter pre-tax earnings up almost a quarter on the year-ago period despite flat sales which it blamed on restrained spending by consumers. The company, controlled by U.S. consumer products group Procter & Gamble, posted earnings before interest and tax (EBIT) of 90.3 million euros ($104 million), up 24.2%.Earnings before interest, tax, depreciation and amortisation ( EBITDA) rose 14.6 percent to 124.3 million euros, it said.“The financial res...
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