L'Oreal net profit increases by almost 18 percent to 2.9 billion euros in 2012
AFPPARIS--French cosmetics giant L'Oreal said Monday its net profit rose by 17.6 percent last year to 2.87 billion euros (US$3.8 billion) and that it expects to top the performance in 2013.
February 13, 2013, 1:28 am TWN
Sales rose by 10.4 percent to 22.46 billion euros, with the gain of 6.2 percent taking into account currency fluctuations.
The company said the board would propose to shareholders a 15-percent increase in its dividend payment to 2.30 euros.
Chief executive Jean-Paul Agon said “2012 also marked a milestone in the acceleration of the Group's internationalization, as the 'New Markets' became the number one geographic zone.”
This includes the Asia-Pacific region, where sales rose by 9.6 percent on a like-for-like basis and 18.4 percent on a reported basis.
Latin American sales rose by 8.7 percent on a reported basis, and by 17.6 percent in Africa and the Middle East.
The company also managed to improve its performance in North America, where sales jumped 18.3 percent on a reported basis, and by 2.1 percent in Western Europe despite the eurozone debt crisis.