Back to growth
Strong growth: +8% based on reported figures at €4.7 billion
+7.4% like-for-like
+7.6% at constant exchange rates Sustained growth in Consumer Products Rebound in Luxury Products and Professional Products Very strong dynamism in New Markets.
Commenting on the figures, Mr Jean-Paul Agon, Chief Executive Officer of L'Oréal, said:
“The first quarter was very encouraging as it marks a clear return to growth, even though the figures must be seen in the context of a weak comparison base, and continuing uncertainties in some markets.
The Consumer Products Division is pursuing its strong growth, and there has been a clear rebound in the Luxury Products and Professional Products Divisions. The powerful dynamism is continuing in the New Markets, where L’Oréal has again significantly strengthened its positions; in North America, the group is growing in all divisions, while there remains a more contrasting situation in Western Europe.
These performances bear out our major strategic choices: the broadening of our consumer base with the target of gaining a billion new consumers, the thorough transformation of the company to make it stronger and more flexible, and the maintaining of a high level of investments in R&D and advertising & promotion to support the conquests made by our brands.
The first months of the year give us confidence for the full year 2010.”
* based on constant translation rates: 2010 data at 2010 rates / 2009 data at 2010 rates