Cosmetics company L'Oreal on Thursday predicted it would make a record profit margin this year as it posted higher first-half sales and earnings boosted by growth in luxury products and emerging markets.
L’Oréal has entered into exclusive discussions regarding The Body Shop with Brazil-based natural beauty giant Natura Cosméticos SA. And it looks like a deal is virtually done with L’Oréal quite bullish on it happening.
A jump in luxury cosmetic sales at L'Oréal offset a weak first quarter for several of the French company's other divisions, with overall like-for-like revenues 4.2 percent higher, slightly above forecasts.
French cosmetics company L'Oreal pledged on Monday to outperform the market in 2016 and confirmed its ambition to achieve another year of sales and profit growth after first-quarter sales rose than expected.