L’Oréal have posted their first-quarter sales of 5.16 billion euros, or $7.02 billion, a 9.3 percent rise in revenues compared with the same period last year. In like-for-like terms, stripping out the effects of currency fluctuations, the company’s sales grew by 5.8 percent during the period. All dollar figures have been calculated at average exchange rates for the three months ended March 31.
“The start to this year is encouraging, as it confirms the group’s good dynamics, to which all divisions are contributing, particularly consumer products and luxury products, driven by the vitality of their major brands,” said Jean-Paul Agon, chairman and chief executive officer of L’Oréal.
L’Oréal’s luxury products division, which includes the beauty brands Lancôme, Yves Saint Laurent and Giorgio Armani fragrance and cosmetics, registered the strongest sales growth, rising 10.3 percent to 1.12 billion euros, or $1.52 billion, during the period. The company said the division registered particularly strong sales in North America. Sales at L’Oréal’s consumer products division — which houses brands including Maybelline and L’Oréal Paris — rose 9.4 percent to 2.58 billion euros, or $3.94 billion.
Meanwhile, the company registered growth across all geographic markets, with particularly strong sales rises in new markets: Sales in Latin America surged 31.5 percent to 404 million euros, or $549.4 million, and sales in Africa and the Middle East grew 18.4 percent to 158 million euros, or $214.8 million. Sales in North America were also strong, growing 11.9 percent to 1.12 billion euros, or $1.52 billion. However, sales in Western Europe were flatter, growing 1.5 percent to 1.91 billion euros, or $2.59 billion during the period.
L’Oréal’s shares closed up 1.75 percent at 83.20 euros, or $119.14 per share, on the Paris Euronext stock exchange Tuesday before the results were published.
Source: www.wwd.com
