PARIS — L’Oréal had a banner year in 2002. The French beauty giant said Thursday that innovation and internationalization drove organic growth in a period beleaguered by adverse currency effects.

For the year ended Dec. 31, L’Oréal posted consolidated sales of $15.4 billion, up 8.9 percent on a like-for-like basis year-on-year. It’s a turnout the company calls "record" and in-line with expectations. On a consolidated basis, sales rose by 4 percent. All dollar figures are converted from the euro at current exchange rates.

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