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Article: L'Oreal's net profits surge 29.6 percent.(earnings report)
- Article from:
- WWD
- Article date:
- September 5, 2002
CopyrightCOPYRIGHT 2002 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PARIS -- French beauty giant L'Oreal posted net profits before exceptional items up 29.6 percent to $754.4 million year-on-year.
All dollar figures are converted from the euro at current exchange rates. For six months ended June 30, the firm registered adjusted operating profits, including exchange gains and losses, of $1.03 billion, up 27.2 percent versus the same period in 2001.
"Strong organic growth in sales, together with productivity gains and careful management of exchange rate risks, have brought a marked increase in margins," said L'Oreal chairman and chief executive officer Lindsay Owen-Jones in a statement "Although it is not possible to ...