However, the nine-month figure came in below analysts’ consensus expectation of about $10.6 billion. L’Oréal Chairman Lindsay Owen-Jones expressed confidence that strong like-for-like growth would continue to year-end.
Company executives said exchange-rate fluctuations had eroded 3.7% from the nine-month revenue figure, compared with the 2.5% erosion experienced in the first six months of 2002. Changes in the company’s group structure during the period produced a negative effect of 0.4%. Nine-month sales of cosmetics rose 4.8% to $10.3 billion, while sales of dermatology products increased by 11% to $230.3 million. Like-for-like sales growth for these main business sectors was 8.4% and 17%, respectively.
Nine-month sales of cosmetics rose 4.8% to 10.60 billion euros, while sales of dermatology products increased by 11% to 224 million euros. Like-for-like