By Anthony Shevlin 
 

L'Oreal SA (OR.FR) said Tuesday that net profit rose in the first half and backed its target to outperform the market in 2019.

The French cosmetics and consumer-products company said net profit for the six months ending June 30 was 2.33 billion euros ($2.59 billion), compared with EUR2.28 billion the year prior.

An analyst consensus provided by FactSet saw net income at EUR2.46 billion.

Sales were EUR14.81 billion compared with EUR13.39 billion the year previous, up 7.3% on a like-for-like basis.

An analyst consensus provided by FactSet forecast sales of EUR14.81 billion.

Sales in L'Oreal's luxe division rose over 13% to EUR5.15 billion in the first half, the company said.

L'Oreal backed its target to outperform the market in 2019 and expects another year of profit and sales growth.

 

Write to Anthony Shevlin at anthony.shevlin@dowjones.com; @anthony_shevlin

 

(END) Dow Jones Newswires

July 30, 2019 12:25 ET (16:25 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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