Emerging markets boost L’Oreal

French cosmetics maker L'Oreal yesterday reported 6.4 per cent like-for-like revenue growth for the first quarter, lifted by big-spending consumers in emerging markets and renewed appetite for luxury goods. Emerging markets reported €2.09bn in sales for the quarter, eclipsing for the first time Western Europe, which reported sales of €1.95bn. L’Oreal said it was confident that it would outperform rivals in 2012.