L'Oréal announces record operating profit
RECORD OPERATING PROFIT:
2.043 BILLION EUROS AT 17.4% OF SALES,
UP BY +7.7%
- Sales: +5.4% like-for-like*
- Strong growth in gross profit at 71.7% of sales
- Sustained investments in Research & Innovation and in Advertising and Promotional growth drivers
- Net profit after non-controlling interests: +5.2%
- EPS**: +7.1%, at 2.94 euros
"In the first half, in a market whose growth slowed down slightly, L'Oréal has continued to record good sales dynamics, and achieved further growth in profits.
The Group's competitiveness has improved once again, and is reflected in market share gains across all divisions and zones. Operating profit has reached a historically high level, with a good quality gross profit and an ongoing policy of sustained investments in Research & Innovation and in Advertising and Promotional growth drivers.
These performances demonstrate the relevance of our business model and the quality of our fundamentals: the ability of our research to create major innovations and stimulate the market, and the vitality and quality of our brand portfolio. We are thus ambitious and optimistic as we continue to implement our strategy of the "universalisation of beauty" and conquer the next billion consumers.
We are confirming our targets for 2013 and remain confident in the Group's ability to once again outperform the market, and to achieve a further year of growth in sales, results and profitability."
* +4.7% based on reported figures.
** Diluted net earnings per share, based on net profit excluding non-recurring items after non-controlling interests.
> Read the whole news release of August 29, 2013
> Watch the pre-recorded video webcast of the half-year financial information meeting held on August 30
