L'Oreal posts rise in profit in 1st half, despite slowdown in market
AFPPARIS -- L'Oreal, the world's top cosmetics company, on Thursday posted a 5.2-percent rise in net profit for the first half of the year and confirmed its target for 2013.
August 31, 2013, 12:03 am TWN
For the six months ending on June 30, the French group earned a net profit of 1.7 billion euros (US$2.3 billion), up from 1.6 billion in the same period a year earlier.
Chief executive Jean-Paul Agon said that even though the market experienced a slight slowdown in the first half “L'Oreal has continued to record good sales dynamics, and achieved further growth in profits.”
He also said his company clinched more market share in the period “across all divisions and zones.”
Sales shot up to 11.74 billion euros from a previous 11.21 billion euros.