L'Oreal 1Q Sales Rose on Fast-Growing Asian Markets

   By Cristina Roca 
 

L'Oreal SA (OR.FR) said Tuesday that its first-quarter sales rose, boosted by double-digit growth in its luxe and active-cosmetics divisions.

The French cosmetics and consumer-products company said sales for the period were 7.55 billion euros ($8.54 billion), up 11% from EUR6.78 billion for the same period the year before. The result beat analyst expectations of EUR7.42 billion, according to a consensus estimate provided by FactSet.

L'Oreal said its sales for the quarter grew 7.7% on a like-for-like basis.

Sales growth was driven by L'Oreal's luxe and active-cosmetics divisions, where sales were up 14% and 13% respectively on a like-for-like basis.

Asia-Pacific was L'Oreal's fastest-growing region, with like-for-like sales there up 23%. China remained buoyant, the company said.

"Despite a volatile, uncertain and contrasted economic environment, this positive start to the year gives us confidence in our capacity to outperform the market in 2019 and see another year of growth in sales and profits," L'Oreal Chief Executive Jean-Paul Agon said.

Write to Cristina Roca at [e-mail]; @_cristinaroca

(END) Dow Jones Newswires

April 16, 2019 12:28 ET (16:28 GMT)

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