L'Oreal 2017 Net Profit Rises on Luxe Division Performance
09 February 2018 - 5:03AM
Dow Jones News
By Anthony Shevlin
L'Oreal SA (OR.FR) said Thursday that net profit for 2017
increased 15%, driven by strong performances in its Luxe division
and Active Cosmetics divisions.
The French cosmetics and consumer-products company said net
profit was 3.58 billion euros ($4.42 billion), compared with
EUR3.11 billion the year previous.
Sales rose 0.7% to EUR26.02 billion, said L'Oreal. Sales in the
company's Luxe division stood at EUR8.47 billion, up 11%, and sales
in the Active Cosmetics Division rose to EUR2.08 billion.
Jean-Paul Agon, chief executive of L'Oreal, said the company
expects to outperform the market in 2018 and to achieve
like-for-like sales growth and an increase in profitability.
L'Oreal's board intends to extend the tenure of Mr. Agon as
director for four years.
The board also proposes to extend Belen Garijo's tenure by four
years. Xavier Fontanet did not wish to extend his tenure as
director, said the company, and Charles-Henri Filippi has resigned
from his role as a result of his appointment at Lazard.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
February 08, 2018 12:48 ET (17:48 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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