L'Oreal sees gains in 2014, sales rise 1.8% to $25.5 billion.
Beauty business is bountiful at L'Oreal. The cosmetics giant's 2014 full year sales rose 1.8% to $25.5 billion (22.53 billion [euro]). Operating profit was $4.4 billion (3.891 billion [euro]), representing 17.3% of sales.
"As anticipated and announced, L'Oreal recorded in the fourth quarter its strongest growth of the year," said Chairman Jean-Paul Agon said. "In a volatile economic context and a less dynamic market, the Group posted growth in all its divisions and regions of the world."
According to Agon, L'Oreal Luxe and Active Cosmetics achieved very good growth and outperformed their market significantly. The professional products division continued to improve. Meanwhile, in a slowing market, the consumer products division saw a temporary sag in its growth, particularly in the US.
Agon noted that 2014 was also a year of transformation for L'Oreal, in particular through the acceleration of its digital transformation and strategic acquisitions such as Magic, NYX, Decleor, Carita and Niely, which complement its brand portfolio in key categories and regions of the world.
"Despite adverse currency effects, operating margin increased once again in 2014 highlighting the strength of our business model" he said. "Following the capital gain realized upon the disposal of Galderma as part of the strategic transaction with Nestle, net profit has grown strongly."
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|Title Annotation:||Financial News|
|Publication:||Household & Personal Products Industry|
|Date:||Apr 1, 2015|
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