L'Oreal Luxury Products achieves LFL growth rate of + 6.9%

06 Nov '07

2 min read

The sales of the L'Oreal group, at September 30th 2007, amounted to 12.639 billion euros, an increase of + 8.6% (based on reported figures).

Like-for-like, (i.e. based on a comparable structure and identical exchange rates) the increase in the group's sales was + 7.7%.

The net impact of changes in consolidation, mainly as a result of the acquisitions of The Body Shop, Sanoflore, Beauty Alliance, PureOlogy and Maly's West, amounted to + 4.1%. Over the full year 2007, the impact of these changes should amount to + 3.6%.

Currency fluctuations had a negative impact of - 3.2%. (at the exchange rate of September 30th, 2007, the impact would be - 3.3% for the whole of 2007). Growth excluding exchange rate impact amounted to + 11.8%.

Commenting on the figures, Mr Jean-Paul Agon, Chief Executive Officer of L'Oreal, said: "The high 3rd quarter growth rate confirms the clear acceleration of sales recorded since the start of the year. The group's expansion reflects homogeneous growth in all our divisions.

From a geographic viewpoint, we are maintaining solid growth in Western Europe. As we had expected, the improvement in North America is gradual. And the very strong dynamism of the countries in the Rest of the World is continuing, particularly in Eastern Europe.

In view of the strong growth achieved in the first 9 months, we can confirm our like-for-like sales growth target bracket for 2007 of + 7% to + 8%. Although full-year negative exchange rate impact has increased, we are confirming our target of double-digit net earnings per share growth in 2007."

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