L’Oréal earnings
This article was originally published in The Rose Sheet
Executive Summary
First half operating profit grew 7.8% to $1.37 bil. (€1=$1.22) on a strategy of cost control and like-for-like sales growth, firm reports Sept. 1. Adjusted operating profit was $1.4 bil., up 1%, and net income rose 21.8% to $1.2 bil. Cosmetics adjusted operating profit was $1.36 bil., while Dermatology contributed a $11.8 mil., L'Oréal adds. Company reported consolidated sales of $917 bil., up 6.4% like-for-like, or 3.6% on a reported basis, in July (1"The Rose Sheet" July 12, 2004, In Brief). Separately, the firm recently opened the first Lancôme concept store carrying the brand's makeup, skin care and fragrances in Hong Kong. Company plans to open 10 new stores this year in Asia and the U.S. and will open the renovated Lancôme Institute in Paris...