Emerging markets lead profit gain at L'Oreal

AP News
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Posted: Aug 29, 2013 12:15 PM

PARIS (AP) — French cosmetics giant L'Oreal says its profit grew 5 percent in the first half of 2013, as the North American market bounced back and emerging markets continued to perform well.

The company behind Lancome and Maybelline said Thursday that income was 1.7 billion euros ($2.3 billion) in the January-to-June period. Its revenue was 11.7 billion euros, also up 5 percent from a year earlier.

The company, known for turning in profits year after year, has been pushing into emerging markets to maintain that performance. Those regions now pull in more revenue than either North America or Europe.

Sales in new markets were up 7 percent in the first half; they rose 6.7 percent in North America. Even in Western Europe, where many companies are posting losses, revenue rose 1.6 percent.