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L’Oréal first half

Executive Summary

Sales advanced 8.6% to $7.32 bil. (€1=$.99) on a like-for-like basis with identical structure and exchange rates, French beauty firm announces July 11. Consolidated sales were up 5.6% compared to the year-ago period. Structural changes negatively impacted L'Oréal by .5%, primarily reflecting sale of Lanvin in 2001. Cosmetic division sales increased 8.4% in the half and dermatology division sales grew 16.5% on a like-for-like basis, according to the company. L'Oréal is on track for the year despite "considerable fluctuations" in exchange rates, which are expected to continue, firm notes...
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