2024-04-19 07:48:30
Around 09:30 GMT, the stock rose 5.08% to 445.10 euros. Since January 1, however, the stock has fallen by 1.14%.
In a beauty sector marked by “fears of a market downturn, this result should lead to a strong positive reaction from the stock” on Friday, Jefferies analysts announced following L’Oréal’s publication.
The cosmetics group announced sales up 8.3% in the first quarter year-on-year to 11.24 billion euros despite a decline in turnover in North Asia, but “more than offset by Europe”, hails Jefferies.
“In mainland China, where the beauty market remained sluggish,” according to the L’Oréal press release, group sales were up 6.2%. Japan and Hong Kong “are both benefiting from the upswing in tourism and showing double-digit growth.”
Revenue in Europe increased by 12.2% to €3.7bn with “particularly notable performances” in Germany-Austria-Switzerland, Spain-Portugal and UK-Ireland. Sales in North America are up 11.9% to three billion euros, thanks in particular to a new computer system.
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