L'Oreal Posts Higher Profit, Sales in 1st Half

By Olivia Bugault

L'Oreal SA said Thursday that net profit and sales rose in the first half thanks to growth in all its divisions and regions.

The French cosmetics and consumer-products company had net profit of 2.36 billion euros ($2.80 billion) in the period, up from EUR1.82 billion a year earlier. Sales rose to EUR15.2 billion from EUR13.08 billion, a 21% increase on a like-for-like basis.

The company's professional products and active cosmetics divisions performed the best during the period with sales growth of 41% and 37.5%, respectively, on a like-for-like basis.

E-commerce sales grew 29% in the January-June period.

"We are more confident than ever in our ability to outperform the market and achieve a year of growth in both sales and results," L'Oreal's chief executive officer Nicolas Hieronimus said.

Write to Olivia Bugault at [e-mail]

(END) Dow Jones Newswires

07-29-21 1233ET