Beiersdorf, the German maker of Nivea skin creams, reported full-year sales that topped estimates as it expanded its product line to counter a slowdown in consumer spending.

Revenue rose 2.3 per cent to €6.29 billion, exceeding the €6.25 billion average of analyst estimates. Sales on an organic basis, which excludes the effects of currency shifts, acquisitions and disposals, increased 4.7 per cent.

Chief executive Stefan Heidenreich has been reformulating Nivea products for new uses, such as in showers, and introducing items to resist a weakening in personal-care spending in Europe, the US and China.

Investors will look to his predictions for 2015 at the annual press briefing in mid-February as evidence that Hamburg-based Beiersdorf can continue sales momentum.The company is “confident” about its outlook for 2015”, Mr Heidenreich said. “At the same time we are aware of the growing macroeconomic challenges in individual markets.” – (Bloomberg)