L’Oreal beats sales forecast

City A.M. Reporter
COSTMETICS group L’Oreal reported slightly higher than expected first-quarter sales yesterday, driven by solid demand for its mass market and luxury products in most regions outside Europe.

But the French firm said trading in western Europe for luxury products remained lacklustre and trends remained negative for its professional hair products in southern Europe.

The maker of Garnier shampoo and Yves Saint Laurent perfume generated revenue of €5.93bn (£5.07bn) in the three months to 31 March, up 5.5 per cent on a like-for-like basis, above forecasts of 5.2 per cent sales growth.