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L’Oréal earnings

This article was originally published in The Rose Sheet

Executive Summary

First half operating profit grew 7.8% to $1.37 bil. (€1=$1.22) on a strategy of cost control and like-for-like sales growth, firm reports Sept. 1. Adjusted operating profit was $1.4 bil., up 1%, and net income rose 21.8% to $1.2 bil. Cosmetics adjusted operating profit was $1.36 bil., while Dermatology contributed a $11.8 mil., L'Oréal adds. Company reported consolidated sales of $917 bil., up 6.4% like-for-like, or 3.6% on a reported basis, in July (1"The Rose Sheet" July 12, 2004, In Brief). Separately, the firm recently opened the first Lancôme concept store carrying the brand's makeup, skin care and fragrances in Hong Kong. Company plans to open 10 new stores this year in Asia and the U.S. and will open the renovated Lancôme Institute in Paris...

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L'Oréal True Match foundation and Garnier Fructis hair care helped drive Consumer Products sales up 5.1% like-for-like, or 2.2% on a reported basis, to $5 bil. (€1=$1.24) in the first half of 2004, French beauty company reports June 8. Luxury Products revenue rose 6.9% like-for-like, or 4% on a reported basis, to $2.03 bil., benefiting from sales of Lancôme Color ID makeup and Hypnôse mascara, firm adds. In North America, sales were up 6.2% like-for-like, but declined 2.7% on a reported basis to $2.26 bil. Western European revenues, impacted by "sluggish" consumer spending in France, Germany and Italy, were up 1.7% like-for-like, or 1.8% reported, to $4.84 bil. Consolidated sales were up 6.4% like-for-like, or 3.6% on a reported basis, to $9.17 bil...

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