PARIS — L’Oréal posted its highest quarterly growth rate in a decade in the third quarter of the year, boosted by business from its Luxe and Active Cosmetics divisions.
The world’s largest beauty company said Tuesday night, after the close of the Paris Bourse, that its sales in the three months ended Sept. 30 reached 6.47 billion euros, up 6.2 percent in reported terms and 7.5 percent on a like-for-like basis, broadly beating financial analysts’ expectations.
“Organic sales growth is ‘booming’ at 7.5 percent, well above 5.9 percent consensus expectations we felt as a bit too optimistic. Indeed, we were expecting 5.3 percent,” wrote Pierre Tegner, an analyst with ODDO BHF, in a note. He highlighted a clear quarterly sequential acceleration in L’Oréal’s Luxe and Active Cosmetics divisions, plus in Asia and Eastern Europe.
Eva Quiroga, an analyst at Deutsche Bank, titled her note “3Q18: perfect growth, imperfect mix.” She said the positive surprise came from L’Oréal Luxe, with like-for-like sales growth of 15.6 percent, “well ahead of consensus,” and Active Cosmetics, with a 13.1 percent comparable gain, “comfortably ahead of consensus.”
L’Oréal’s Active Cosmetics Division’s sales were buoyed by all of its major brands, such as La Roche-Posay and SkinCeuticals.
Meanwhile, the Consumer Products
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