Paris, Feb. 10, (dpa/GNA) - A surge in demand for make-up and skin care products coupled with the weaker euro enabled French cosmetics group L’Oréal to report significant increases in sales and profits.
Sales rose by 18.5% last year to just over €38 billion ($40 billion), the company said on Thursday.
Adjusted for currency effects and the impact of acquisitions and disposals, growth almost reached 11%.
L’Oréal, whose products include Maybelline New York mascara and Garnier shampoo, beat analysts’ expectations.
Profits rose by 24% to €5.7 billion.
L’Oréal is planning to raise its dividend by a quarter to €6 per share.
Group chief executive Nicolas Hieronimus is optimistic about the outlook, despite inflation and the ongoing war, saying he expects further growth in 2023.
GNA