L'Oréal stands optimistic despite profit loss

Published: 17-Feb-2009

The L'Oréal group increased sales by 6.6% in 2008 to €17.5bn and improved its share in the world market but net profits declined by 26.6% to €1.9bn. The company says the year combined a slowdown in markets, adverse exchange rate influences and rises in costs of raw materials and comments that the net profits figure is actually in line with the October 2008 forecast. Jean-Paul Agon, L'Oréal president, said the company continued to strengthen its positions and increase world market share.


The L'Oréal group increased sales by 6.6% in 2008 to €17.5bn and improved its share in the world market but net profits declined by 26.6% to €1.9bn. The company says the year combined a slowdown in markets, adverse exchange rate influences and rises in costs of raw materials and comments that the net profits figure is actually in line with the October 2008 forecast. Jean-Paul Agon, L'Oréal president, said the company continued to strengthen its positions and increase world market share.

Sales in western Europe remained stable largely due to strong growth in Germany and the UK and this offset the marked slowdown of the French domestic market. Asian business grew by 16% and that in eastern Europe by 21%. Agon has said that in 2009 he has confidence in the company's ability to pass through the current adverse economic climate and even to emerge from it stronger.

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