L'Oréal sales growth slows in Q2

Published: 27-Jul-2012
Finance

Company still expects strong 2012 results


The cosmetics major L'Oréal has confirmed slower growth in second quarter 2012 due to the downturn in the Eurozone and the contraction in emerging markets. L'Oréal said these downward trends had been only partially offset by buoyancy in the North American markets.

Sales in the reporting quarter rose 11.6% to €5.5bn. Growth in organic terms was 5.7% compared with 6.4% in first quarter. Organic growth in first half 2012 was 6% with sales of €11.2bn. First quarter results reflected a marked improvement in the luxury products sector, increasing dynamism in the US and some recovery in European markets. Despite the slower growth, L'Oréal president Jean-Paul Agon, has said the company is confident that 2012 results will be better than the market as a whole.

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