L'Oreal sees profits surge
AFP · 31 Aug 2011, 08:23
Published: 31 Aug 2011 11:23 GMT+02:00
Updated: 31 Aug 2011 08:23 GMT+02:00
"We reaffirm our ambition for 2011 to outperform the market and to improve group profitability," chief executive Jean-Paul Agon said in a statement.
He said earnings improved despite the rise in raw material costs.
Operating profit in the six months to June was €1.70 billion, with operating margins at 16.8 percent, down from 17.3 percent in the same period last year due to increased investment and advertising costs.
Sales were up 5.0 percent to €10.15 billion.
The group said it had reinforced its position around the world, including North America, Latin America and Asia.