L’OREAL REPORTS ’96 GAIN
CLICHY, France — Preliminary figures for 1996 are in from L’Oreal, and the cosmetics and pharmaceuticals giant reported strong gains in profits and sales.
Operating profits jumped 17.5 percent to $1.29 billion (7.35 billion francs) from 6.26 billion francs in 1995. Net profit after taxes but before capital gains and losses was up 10.3 percent to $654 million (3.7 billion francs) from 3.38 billion francs in 1995.
Sales gained 13.1 percent to $10.58 billion (60.3 billion francs) from 53.37 billion francs.
Operating profits in the cosmetics segment were up 15.7 percent to $1.02 billion (5.87 billion francs).
The company said 1996 was the first year Maybelline (U.S.), Jade (Germany) and Interbeauty (Israel) were consolidated. Jade was purchased in August 1995 and Maybelline in December of that year. L’OrAal holds a 65 percent interest in Interbeauty, 30 percent purchased in May l994 and 35 percent in January 1996.
Operating profits of the pharmaceuticals segment jumped 24.8 percent to $267.4 million (1.5 billion francs).
The dermatology group generated operating profits of $9.65 million (55 million francs).
Capital gains and losses were not disclosed. The firm said the preliminary figures would be reviewed by the board and auditors and final figures would be approved April 22.