PARIS — L’Oréal’s third-quarter sales sped past financial analysts’ expectations, propelled by business in Asia and the group’s luxury and active cosmetics activities.
The world’s largest beauty company said on Tuesday evening after the close of the Paris bourse that its sales in the three months ended Sept. 30 came to 7.18 billion euros, up 11 percent in reported terms and 7.8 percent on a like-for-like basis.
Financial analysts’ consensus expected a 6.2 percent sales gain in constant terms.
Eva Quiroga, an analyst at Deutsche Bank, called L’Oréal’s third-quarter sales “the best number in more than a decade. Pleasingly, like-for-like growth — albeit still skewed toward Asia and L’Oréal Luxe — was more broad-based than it has been for some time, as Western Europe and Professional Products showed clear signs of recovery.”
Sales momentum at the maker of Lancôme, Garnier and Maybelline products picked pace up in July-to-September period, after the group posted growth of 6.8 percent in the second quarter and 7.7 percent in the first quarter of 2019.
“What is very positive is that this acceleration of the organic growth versus previous quarters is coming from an improvement of the rest of the world, excluding Asia,” wrote Pierre Tegnér, an analyst with ODDO
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