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L'Oréal confirms luxury products sales grow at 1.4%

13
Jul '05

France based famous cosmetic group L'Oréal Group announced first half sales for 2005.

- Significant increase in 2nd quarter growth
- Strong Growth Continues In North America And In New Markets
- Western Europe Returns To Growth
- Positive Impact Of Exchange Rate Turnaround
- The sales of the L'Oréal group, at June 30th 2005, amounted to 7.163 billion euros.

Growth based on reported figures, which amounted to +1.6% in the first quarter, reached +5.4% in the second quarter, giving a first half growth rate of +3.5%.

Like-for-like, i.e. based on a comparable structure and identical exchange rates, the growth in the group's sales, which was +3.1% in the first quarter, increased sharply in the second quarter to +5.1%, giving a growth rate of +4.1% for the first half of 2005.

Currency fluctuations, which had a negative impact of -1.6% in the first quarter, had a positive impact of +0.2% in the second quarter. For the first half of 2005, their negative impact was therefore only -0.7%.

The net impact of changes in consolidation amounted to +0.1%.

Commenting on the figures, Sir Lindsay Owen-Jones, Chairman and Chief Executive Officer of L'Oréal, said: "We have seen a significant increase in activity across all our businesses in the second quarter. Western Europe returned to sales growth.

Strong growth continues in North America and the Rest of the World.

In view of our intensive programmes of promotional activities and new product launches, sales growth should continue to accelerate for the rest of the year.

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