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L'Oreal posts 7.7 percent rise in first-half operating profit
August 29, 2013 / 4:12 PM / 4 years ago

L'Oreal posts 7.7 percent rise in first-half operating profit

PARIS (Reuters) - French cosmetics giant L‘Oreal (OREP.PA) on Thursday posted improved margins and a nearly 8 percent rise in first-half operating profit in spite of slightly weaker demand from major markets such as the United States.

A tourist walks past the entrance of Cosmetics company L'Oreal building in Paris, August 16, 2013. REUTERS/Christian Hartmann

The maker of Armani perfume and Lancome creams had earnings before interest and tax of 2.04 billion euros ($2.70 billion), roughly in line with the average estimate of 2.05 billion in a Thomson Reuters I/B/E/S poll.

The first-half operating margin at the group’s mass market consumer products division reached 20.8 percent, up from 19.9 percent a year ago, and the margin at its luxury products unit stood at 20 percent, up from 19.5 percent.

($1 = 0.7562 euros)

Reporting by Astrid Wendlandt; Editing by James Regan

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