L'Oreal Q1 Sales Up 3.6%

(RTTNews) - Cosmetics and beauty products giant L'Oreal Co. (LRLCY.PK) on Wednesday reported first-quarter sales of 12.15 billion euros, up 3.6% from 11.73 billion euros last year.

On a like-for-like basis, revenues were up 7.6% for the quarter.

Professional products revenues gained 14.5% to 1.46 billion euros, while consumer products revenues rose 2.1% to 4.37 billion euros. L'Oréal Luxe revenues inched up 0.3% to 4.11 billion euros, while dermatological beauty revenues increased 6.2% to 2.22 billion euros.

Commenting on the figures, Nicolas Hieronimus, CEO of L'Oréal, said: "L'Oréal is off to a great start with adjusted like-for-like growth1 of +6.7%. We not only outperformed a beauty market that remains dynamic but accelerated our market share gains around the world. Driven by the step-up in our innovation plan, we continue to win in fragrances, haircare and makeup and start seeing some encouraging signs in skincare."