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L'Oreal quarterly revenue up 9.5 percent on North American rebound

L'Oreal quarterly revenue up 9.5 percent on North American rebound

L'Oreal, the maker of Garnier shampoo and Lancome perfume, said Thursday that fourth-quarter revenue rose 9.5 percent, boosted by a rebound at its North American division.
The world's largest cosmetics maker reported revenue of euro4.15 billion (US$5.38 billion) for October to December, compared with euro3.79 billion in the year-earlier quarter.
L'Oreal said full-year 2006 revenue rose 8.7 percent to euro15.8 billion (US$20.5 billion) _ boosted by first-time consolidation of its newly acquired Body Shop unit _ from euro14.5 billion in 2005.
Stripping out currency effects, selloffs and acquisitions, L'Oreal said fourth-quarter revenue growth came to 6.5 percent _ beating the 6.1 percent rise predicted by analysts in a Dow Jones Newswires poll.
Sales in the United States and Canada _ where L'Oreal previously had gone through weak patch as retailers held off on new orders to reduce their stocks _ rose 3.6 percent to euro990 million (US$1.28 billion) in the last quarter. This came as a positive surprise to analysts, who were expecting a 2.6 percent rise.
Chief Executive Jean-Paul Agon said the company was on course to meet full-year profit targets. He also highlighted "renewed dynamism" in Western Europe, strong growth in emerging markets and a good performance at the Body Shop unit.
Shares of L'Oreal SA closed unchanged at euro77.75 (US$100.90) in Paris shortly before the announcement.


Updated : 2020-12-01 14:19 GMT+08:00