L'Oreal 1Q Sales Rose on Fast-Growing Asian Markets
16 Avril 2019 - 6:43PM
Dow Jones News
By Cristina Roca
L'Oreal SA (OR.FR) said Tuesday that its first-quarter sales
rose, boosted by double-digit growth in its luxe and
active-cosmetics divisions.
The French cosmetics and consumer-products company said sales
for the period were 7.55 billion euros ($8.54 billion), up 11% from
EUR6.78 billion for the same period the year before. The result
beat analyst expectations of EUR7.42 billion, according to a
consensus estimate provided by FactSet.
L'Oreal said its sales for the quarter grew 7.7% on a
like-for-like basis.
Sales growth was driven by L'Oreal's luxe and active-cosmetics
divisions, where sales were up 14% and 13% respectively on a
like-for-like basis.
Asia-Pacific was L'Oreal's fastest-growing region, with
like-for-like sales there up 23%. China remained buoyant, the
company said.
"Despite a volatile, uncertain and contrasted economic
environment, this positive start to the year gives us confidence in
our capacity to outperform the market in 2019 and see another year
of growth in sales and profits," L'Oreal Chief Executive Jean-Paul
Agon said.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
April 16, 2019 12:28 ET (16:28 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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