Luxury products boost L'Oreal profits
August 29 , 2012
L'Oreal, the world's biggest cosmetics group, announced its first-half operating profit rose 11.4 percent on the back of sales of luxury cosmetics products.
While operating profit rose across all divisions, the group's margin was little changed at 16.9 percent compared to 16.8 percent in the same period a year ago.
Group operating profit sat at $2.38 billion.
Operating profit on luxury products which include its Cacharel and Lancome brands, increased 21.4 percent, yielding a margin of 19.5 percent.
Meanwhile, operating profit at mass consumer goods such as Garnier and Maybelline, was up 6.7 percent but the margin dipped to 19.9 percent.