L'Oreal H1 profits rise

Cosmetics and beauty products giant L'Oreal Co. (LRLCY.PK), Thursday reported first-half 2022 net profit excluding non-recurring items of 3.62 billion euros or 6.73 euro per share, up from 3.25 billion euros or 6.05 euro per share last year.

Sales for the first half rose 12 percent to 20.57 billion euros from 18.37 billion euros last year. On a like-for-like basis, sales of the L'Oréal group grew by 13.3 percent.

Commenting on the figures, Nicolas Hieronimus, CEO of L'Oréal, said: "In a beauty market that is more dynamic than ever, L'Oréal delivered a remarkable performance and further strengthened its global leadership in the first half. Growth was broad-based across all Divisions, Regions, categories, and channels, once again vindicating our balanced, multi-polar model. Growth continued to be driven by the dual cylinders of volume and value - testament to the success of our innovations and the desirability of our brands. In keeping with our virtuous circle, we improved our profitability, all while significantly increasing investment in our brands."(DPA)