PARIS (AFP) – French cosmetics giant L’Oreal reported a year-on-year increase in first-quarter sales on Thursday as activity in Europe and emerging markets offset “sluggish” conditions for beauty in China.
Sales in the first three months of the year climbed by 8.3 per cent to EUR11.24 billion, despite its North Asia market falling by almost four per cent to EUR2.7 billion.
The figures surpassed analyst expectations for the group, which includes brands Garnier, Maybelline, Prada and Yves Saint Laurent.
“2024 is off to a good start… Continued double-digit growth in Europe, coupled with ongoing strength in emerging markets, more than offset the gradual recovery in North Asia,” said L’Oreal chief executive Nicolas Hieronimus.
