L'Oreal
This article was originally published in The Rose Sheet
Executive Summary
First half worldwide cosmetics sales up 12.1% to $5.55 bil., the company reported Oct. 1, based on FFr 5.5975 = $1. First half pretax profits for cosmetics increased 12.1% to $528.8 mil. Consolidated sales rose 11.5% to $6.78 bil. through six months. Overall pretax profits increased 14.2% to $726.8 mil. Excluding foreign exchange rates fluctuations, North American sales were up 12.2%, Western Europe generated a 10.6% gain and the rest of the world experienced a sales growth of 14%. "Continued growth" in Western Europe and North America will allow Clarins to meet its goal of double-digit growth for 1998, the company predicted