WWD.com/business-news/financial/l-oreal-s-consolidation-ups-sales-1064429/

PARIS – L’Oreal’s second-quarter 2006 sales rose 6 percent to 3.84 billion euros, or $4.78 billion at average exchange, year-on-year.

For the first half ended June 30, the French beauty giant’s sales hit 7.79 billion euros, or $9.58 billion, an 8.7 increase. The company said the net impact of changes in consolidation, mainly due to the purchase of Skinceuticals and Delial last summer, added 0.5 percent to the company’s sales. Currency fluctuations positively impacted the business by 2.4 percent.On a like-for-like basis, L’Oreal’s first-half sales rose 5.8 percent.

“The increase of our sales up to the end of June is very encouraging and confirms the clear upturn in the group’s growth, particularly in Western Europe,” said Jean-Paul Agon, L’Oreal’s chief executive officer, in a statement. “Furthermore, high growth rates have been recorded in the new markets, such as Latin America and Eastern Europe. The major launch programs and promotional activities scheduled for the second half-year should enable us to maintain this momentum. All these factors mean that we are very confident about the outlook for the 2006 results.”


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