Edition:
India

L'Oreal H1 profits rise, company to carry out share buyback


Tuesday, 30 Jul 2019 

July 30 (Reuters) - L'Oreal SA ::STRONG GROWTH CONTINUES: +7.3%.SUBSTANTIAL INCREASE IN OPERATING PROFIT: +12.1%.SALES: 14.81 BILLION EUROS * +7.3% LIKE-FOR-LIKE.DOUBLE-DIGIT GROWTH AT L'ORÉAL LUXE AND ACTIVE COSMETICS.VERY DYNAMIC GROWTH IN ASIA PACIFIC.OPERATING CASH FLOW UP +23.2%.RECORD OPERATING MARGIN OF 19.5%.NORTH AMERICA IS STILL BEING HELD BACK BY SLOWDOWN IN MAKEUP.CHINA IS MAINTAINING ITS PACE OF GROWTH, AND INDIA, MALAYSIA, INDONESIA AND VIETNAM ARE ALL POSTING DOUBLE-DIGIT GROWTH.SALES ARE INCREASING IN WESTERN EUROPE, IN A MARKET WHICH REMAINS DIFFICULT..OPERATING PROFIT HAS INCREASED STRONGLY BY +12.1%, SETTING A NEW RECORD IN OPERATING MARGIN OF 19.5%..NET EARNINGS PER SHARE IS UP +7.2% AT 4.38 EUROS..NET PROFIT COMES OUT AT 2,326 MILLION EUROS. OPERATING CASH FLOW IS UP +23.2%..CONFIDENT IN OUR CAPACITY TO OUTPERFORM MARKET IN 2019 AND ACHIEVE ANOTHER YEAR OF GROWTH IN SALES AND PROFITS..TO SET UP A SHARE BUYBACK PROGRAMME AMOUNTING TO A MAXIMUM OF 750 MILLION EUROS AND WITH A MAXIMUM NUMBER OF SHARES TO BE ACQUIRED OF 3 MILLION DURING SECOND HALF OF 2019.. 

Company Quote

276.6
-3.4 -1.21%
9:09pm IST