L'Oréal sees 14.6% increase in Q3 and 6.2% increase in nine months
Exchange rate factors and emerging markets boost results
L'Oréal has reported a 14.6% increase in third quarter 2010 sales to continue the positive trend of the first half. Helped by exchange rate factors and demand from emerging country markets, total sales in the first nine months of this year went up 6.2% to €14.5bn. Director general, Jean-Paul Agon said organic growth remained sustained in the third quarter and the performance confirmed the marked pick-up in business.
Activity has been dominated by the newly emerging markets of Asia, eastern Europe, Africa, the Middle East and Latin America where third quarter sales expanded by 11.3%. Growth in the first half year was led by the luxury and professional product areas of the business with reported sales growth of 10.3%. The hair colourant sector is reportedly expanding strongly while in the luxury products segment Lancôme sales were helped by the widespread success of the Genifique skin care range. Yves Saint Laurent gained market share in the first half in both North America and Europe.
The new markets accounted for growth of 22% in first half alone with Latin America posting a rise of 35.1% in the first six months. Sales in western Europe were up 2.6% and those in North America by 8.8%.
