L'Oréal saved by Asia and Latin America
The Asian and Latin American markets have helped L'Oréal achieve an increase in Q2 2009 sales of 2.6% at €4.4bn. However, if acquisitions and currency factors are discounted, sales for the period actually fell 2.1% to follow on from a fall of 4.3% in Q1. The company says the environment remains difficult but intends to continue to improve performance. Finance director Thierry Prevot has said there are signs that the destocking trend in the distribution sector is weakening. Sales in western Europe in Q2 fell by 6.6% and dipped 3% in North America but rose 4.3% in Asia and 13% in Latin America.
The Asian and Latin American markets have helped L'Oréal achieve an increase in Q2 2009 sales of 2.6% at €4.4bn. However, if acquisitions and currency factors are discounted, sales for the period actually fell 2.1% to follow on from a fall of 4.3% in Q1. The company says the environment remains difficult but intends to continue to improve performance. Finance director Thierry Prevot has said there are signs that the destocking trend in the distribution sector is weakening. Sales in western Europe in Q2 fell by 6.6% and dipped 3% in North America but rose 4.3% in Asia and 13% in Latin America.