L’Oréal first half sales
This article was originally published in The Rose Sheet
Executive Summary
Cosmetics revenue grew 4.1% like-for-like, or 3.5% on a reported basis, to $8.5 bil. (€1=$1.20) during the first half of 2005, French beauty company reports July 11. Sales of consumer products were up 4.1% like-for-like, or 3.7% on a reported basis, to $4.55 bil., led by the performance of L'Oréal Paris True Match and Maybelline New York Dream Matte Mousse foundations and L'Oréal Men Expert, firm says. Active cosmetics gained approximately 13% to $677.3 mil. on sales of Vichy and La-Roche Posay skin care brands. Luxury products grew 1.4% like-for-like to $1.97 bil., but were flat on a reported basis, boosted by sales of Armani Black Code fragrance for men and Armani Cosmetics, as well as Lancôme, Kiehl's and Biotherm products, according to L'Oréal. In North America, revenues were up 7.2% like-for-like, or 3.8% on a reported basis, to $2.17 bil., driven by consumer products including Garnier Fructis hair care...
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French company is evaluating Japanese cosmetics business Kanebo as a potential acquisition target, but declined to comment on specifics regarding its interest during Sept. 2 half year earnings presentation. "We are obliged to look at a dossier such as that one, as it is extremely rare...for a significant company in terms of market share in Japan to be up for sale," firm says. Japanese Industrial Revitalization Corporation currently is seeking a buyer for Kanebo. L'Oréal reported a 5.8% decline in net profit to $1.12 bil. (€1=$1.25), related to the deconsolidation of Sanofi-Synthelabo. Operating profit was flat at $1.39 bil. under new European accounting rules. L'Oréal reported first half sales in July (1"The Rose Sheet" July 18, 2005, In Brief)...
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