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January 23, 2004
By: TOM BRANNA
Editor
Wella AG, controlled by Procter & Gamble, said its sales and earnings before interest and tax slipped in 2003, bearing the brunt of the strong euro. The German firm reported earnings before interest and tax slipped to 313 million euros ($399 million) as its consolidated sales fell 2.3% to 3.3 billion euros.Illustrating the company’s susceptibility to the euro’s rate against the dollar, executives said sales rose 4.3% in currency-adjusted terms. In a context of uncertainty among ...
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