February 8, 2018 / 5:14 PM / 2 months ago

Luxury cosmetics lift L'Oreal sales growth in Q4

PARIS, Feb 8 (Reuters) - L’Oreal, the world’s biggest cosmetics company, on Thursday reported slightly better-than-expected revenue growth in the fourth quarter of 2017, boosted by sales of its luxury brands like Lancome.

The French firm said like-for-like sales, which exclude currency swings and acquisitions or disposals, rose 5.5 percent from a year earlier, a touch above the 5 percent expected by analysts polled by Inquiry Financial for Reuters.

On a reported basis, sales were down 4.1 percent to 6.5 billion euros ($7.96 billion). For 2017 as a whole, revenue rose 0.7 percent to 26 billion euros, while L’Oreal’s operating income grew 3 percent to 4.7 billion euros as margins hit a record 18 percent. ($1 = 0.8170 euros) (Reporting by Sarah White, Editing by Maya Nikolaeva)

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