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German Maker Of Nivea Line Reports Record Profits

Last year, more people than ever used Nivea creams to keep the wrinkles away. In doing so, they helped its German maker, Beiersdorf, post record earnings of €4.7 billion ($4.96 billion) for 2002, €200 million more than the previous year. On Thursday, the Beiersdorf, Germany, company reported an increase of profits to €470 million, €10 million more than it had forecasted only two months ago. More than half of that came from the sales of the Nivea line of cream and beauty products. Beiersdorf shares in Frankfurt rose 1 percent on the news.