L’OREAL REPORTS CONSOLIDATED SALES UP 17.4%
Byline: Jennifer Weil
PARIS — French beauty giant L’Oreal reported its consolidated sales for the first nine months of the year were up 17.4 percent, to $8.19 billion.
Excluding currency fluctuations, sales would have increased 10 percent, and, excluding acquired businesses, 8.6 percent. Dollar figures have been converted at current exchange rates.
The company explained in a statement that the growth based on published figures is higher than the rate of 14.5 percent achieved during the first six months of the year. Currency fluctuation benefited L’Oreal 7.4 percent in the nine months as opposed to 6.2 percent during the first half of the year.
The consolidation of four cosmetics subsidiaries — Kiehl’s, Matrix and Carson in the U.S. and Miss Ylang in South America — added 1.4 percent to the reported revenues.
Cosmetics sales were $7.96 billion, up 17.4 percent overall and 9.8 percent excluding currency effects, for the period. The dermatology branch posted volume of $164.7 million, a 31.5 percent increase that amounts to 18.6 percent when currency effects are excluded.
The company said these results are “in line” with the yearend expectations.