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Shares of L'Oreal up after better than expected 4th-quarter sales

Shares of L'Oreal up after better than expected 4th-quarter sales

Shares of L'Oreal SA climbed Friday after the world's biggest cosmetics maker announced higher than expected fourth-quarter revenue, boosted by a rebound in North America.
L'Oreal was trading up 4.6 percent mid-morning at euro81.35 (US$105.58).
The maker of Lancome cosmetics and Garnier hair care released the figures after the market closed Thursday, reporting revenue of euro4.15 billion (US$5.38 billion) for the October to December quarter, up 9.5 percent from euro3.79 billion a year earlier.
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.
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 highlighted "renewed dynamism" in western Europe, strong growth in emerging markets and a good performance at the Body Shop unit.


Updated : 2021-03-02 13:29 GMT+08:00