Eyecatching highlights: L’Oreal big on luxury brands
Chief executive Jean-Paul Agon gave the upbeat projection at an analyst meeting yesterday after the French giant announced an 11.4 per cent rise in first-half operating profit late on Tuesday, helped by luxury cosmetics products.
Shares in the firm, which is advertised by singer Cheryl Cole, pictured, and actress Rachel Weisz, have been steadily rising – up 25 per cent since the beginning of January. They dipped after the group’s operating margin missed expectations.
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Hide AdHowever, Agon said he was confident for the full year, even with growth easing in Asia, the United States and in the travel sector. L’Oreal said in July it expected to launch several products in the luxury segment.