By  on February 16, 2009

PARIS — French beauty giant L’Oréal posted 2008 net profits that fell 26.6 percent year-over-year to 1.95 billion euros, or $2.87 billion at average exchange.

The decline stemmed partly from a difficult comparison due to the sale of Sanofi-Aventis shares resulting in a capital gain of 643 million euros, or $945.2 million, in November 2007.

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