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L’Oreal posts higher sales, profits

L'orealFrench cosmetics retailer, L’Oreal, has posted a rise in annual profits and is confident it will ‘once again outperform the beauty market in 2017’.

L’Oreal posted a 2.3 per cent increase in its 2016 sales from a year ago to €25.84 billion. Its earnings per share also rose 4.6 per cent to reach 6.46 euros in 2016.

The company’s e-commerce sales rose by 33 per cent.

“L’Oreal achieved another good year, with a significant growth in sales and robust profits,” said Jean-Paul Agon, company chairman and CEO. “In a generally favourable cosmetics market, the Group has once again accentuated its worldwide beauty leadership thanks to market share gains in its three main geographic zones.”

Agon said all the company’s divisions have recorded sales growth.

“The active cosmetics division also performed well, winning market share around the world,” he said.

“As announced, the consumer products division, driven by its successful strategic choices, saw a clear acceleration in sales and outperformed its market.”

Looking ahead, Agos said that despite “an economic context that is still volatile and uncertain,” they are confident the company will once again outperform the beauty market in 2017” with another year of growing sales and profits.

L’Oreal, whose brands include Maybelline New York, Kiehl’s and Redken, stated last week it is weighing a possible sale of its Body Shop retail chain.

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