L’Oreal’s Profits, Sales Jump

L’Oreal ‘s profits jumped 22.5% to $402.8 million on sales of $5.33 billion, up 14.5%, during the first half of 2000. L’Oreal chairman Lindsay-Owen-Jones said he expect performance for the remainder of the year to be on par with results so far this year. “After the excellent first-half results and in view of the strong growth prospects for the second half, the annual results excluding acquisitions should reflect an increase broadly in line with that achieved in the first half. L’Oreal’s acquisitions of Kiehl’s, Matrix and Carson will be consolidated in the second half.