L'Oreal Q1 Sales Jumps 19%

(RTTNews) - Cosmetics and beauty products giant L'Oreal Co. (LRLCY.PK) reported that its sales for the first-quarter jumped 19% to 9.06 billion euros from 7.61 billion euros last year. On a like-for-like basis, L'Oréal group sales growth for the quarter were 13.5%.

Professional products revenues gained 22.7% to 1.04 billion euros, while consumer products revenues gained 11.1% to 3.30 billion euros. L'Oréal Luxe rose 25.1% to 3.46 billion euros, while active cosmetics jumped 22.4% to 1.25 billion euros.

Commenting on the figures, Nicolas Hieronimus, CEO of L'Oréal, said, " Against the backdrop of the invasion of Ukraine and strengthened sanitary measures in China, L'Oréal had a strong first quarter, with strong growth in sales, at +13.5% like-for-like and +19.0% reported."

"In the first three months of the year, the growth trend continued in the global beauty market, with consumer purchasing behaviour unaffected by inflation. L'Oréal pursued its premiumisation and innovation strategy and continued to outpace the beauty market across all Zones and Divisions, recording strong growth by volume and value. L'Oréal Luxe, Professional Products and Active Cosmetics all achieved double-digit growth, and our Consumer Products Division again outperformed the market despite supply-chain challenges."