Alexa
  • Directory of Taiwan

French cosmetics company L'Oreal's first-half net profit rises 8.4 percent

French cosmetics company L'Oreal's first-half net profit rises 8.4 percent

French cosmetics giant L'Oreal SA Thursday reported an 8.4 percent rise in first-half net profit and raised its full-year sales target.
Net profit for the first half was euro1.18 billion (US$1.37 billion), compared with euro1.09 billion a year ago.
Operating profit for the six-month period ending June 30 rose 8 percent to euro1.44 billion (US$1.97 billion), compared with euro1.33 billion last year.
In a statement, L'Oreal Chief Executive Jean-Paul Agon said improvements in operating profitability came partly from cost cutting efforts.
The highest operating margins came from the company's active cosmetics line, which includes Vichy skin care products, which posted euro178 million (US$243 million) in operating profit, or 25 percent of sales.
The largest contributor to operating profit, the consumer products division, posted a 10 percent rise in operating profit to euro879.9 million (US$1.2 billion), compared with euro799.8 million a year ago.
L'Oreal, the maker of Maybelline mascara and Kiehl's lip balm, in July posted first-half sales growth of 9.4 percent to euro8.51 billion (US$11.64 billion).
The company raised its 2007 like-for-like sales growth target to between 7 percent and 8 percent from a previous range of 6 percent to 8 percent. The company also said it expects to post double-digit net earnings-per-share growth in 2007.
Shares, which hit a high this year of euro90 (US$123) on June 15, closed at euro84.39 (US$115.40) on Thursday, giving the company a market capitalization of euro52.09 billion (US$71.23).


Updated : 2021-06-14 08:40 GMT+08:00