L'Oréal has confirmed its earlier forecast of organic sales growth of between 6% and 8% in 2008. Last month the cosmetics major announced an 8.1% rise in 2007 sales to €17.1bn, above expectations, and has now reported 13% growth in its net earnings per share (EPS) to €3.36. Net group profits rose by 28.9% to €2.06bn. L'Oréal president, Jean-Paul Agon said the takeoff of growth had been confirmed in Western Europe, the improvement was progressive in North America and growth was accelerating in the rest of the world.
The publication of the group's final figures for last year includes the results of Body Shop and the US distributors of professional hair care products to American salons for the first time.
Market analysts are now awaiting a more detailed statement from the company on its prospects for 2008. Meanwhile L'Oréal has underlined its optimism "despite the uncertain economic environment".