L’Oréal is confident after a 25.2% jump in first-half profit


PARIS (Agefi-Dow Jones)–The world’s leading cosmetics company L’Oréal announced on Thursday that its net income group share had increased by 25.2% to 3.25 billion euros in the first half.

The group also confirmed its objective of an increase in its turnover and its results this year, higher than that of the world beauty market.

“After two years of the pandemic, consumers are happy to return to a more intense social life and want to indulge themselves with innovative and high-quality beauty products, which is stimulating the beauty market”, commented Nicolas Hieronimus, the CEO of L’Oreal. “L’Oréal is growing twice as fast as the market and is thus strengthening its position as world number one,” added the manager.

Over the first six months of the year, the group’s sales amounted to 18.36 billion euros, up 20.9% on a reported basis, 13.5% like-for-like and 13.9% at constant exchange rates.

L’Oréal’s operating profit stood at 3.74 billion euros in the first half, compared to 2.99 billion euros a year earlier, showing an operating margin of 20.4% , up 70 basis points.

According to the consensus established by Factset, analysts expected an average turnover of 18.4 billion euros in the first half, for an operating result (Ebit) of 3.65 billion euros and a net result of 3.04 billion euros.

In addition, the group’s Board of Directors has decided to buy back L’Oréal shares during the second half of 2022 for a maximum amount of 500 million euros and a maximum number of shares to be acquired of 2 million. “The shares thus bought back are intended to be cancelled,” said L’Oréal.

-Eric Chalmet, Agefi-Dow Jones; +33 (0)1 41 27 47 95; [email protected] ed: VLV – JEB

L’OREAL FINANCIAL RELEASES:

http://www.loreal-finance.com/en/news

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July 28, 2022 13:07 ET (17:07 GMT)



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