FRIDAY, March 29, 2024
nationthailand

L'Oreal posts 7.3% rise in sales for first half of year

L'Oreal posts 7.3% rise in sales for first half of year

Cosmetics producer L'Oreal has boosted its sales by 7.3 per cent to 14.81 billion euros (Bt504 billion) in the first half of this year.

Jean-Paul Agon, chairman and chief executive officer of L'Oreal, said on Thursday that L’Oreal had delivered its strongest first half, like-for-like growth in more than a decade, “outperforming a dynamic market which has, for the second year running, posted one of its highest-ever growth rates”. 
“All the divisions are growing, and notably the L’Oreal Luxe and active cosmetics divisions which posted double-digit growth,” Agon said. “The progression of L’Oreal Luxe is being driven by its four big brands: Lancome, Yves Saint Laurent, Giorgio Armani and Kiehl’s. The active cosmetics division continues to benefit from the growing appetite for healthy beauty and is posting geographically balanced growth. The performance of the consumer products division is improving semester by semester, thanks especially to the success of L’Oreal Paris, the world’s number No 1 beauty brand. Meanwhile, the transformation of the professional products division is ongoing. 
“Across the geographic zones, the new markets are growing very strongly, particularly the Asia Pacific zone, which is now the group’s No 1 zone. China is maintaining its pace of growth, and India, Malaysia, Indonesia and Vietnam are all posting double-digit growth. North America is still being held back by the slowdown in makeup. Sales are increasing in Western Europe, in a market which remains difficult.
“Digital continues to boost growth and reinforces our relationship with our consumers. At the same time, e-commerce is up by 48.5 per cent, and represents 13.2 per cent of total sales. Travel retail, another of the group’s growth drivers, has grown by 21.2 per cent.”
The company’s operating profit rose 12.1 per cent, setting a record in operating margins of 19.5 per cent. Net earnings per share rose 7.2 per cent to 4.38 euros. After allowing for 139 million euros of non-recurring items, net profit comes in at 2.32 billion euros. Operating cash flow is up 23.2 per cent.

nationthailand