1 Min Read |
PARIS, Oct 30 (Reuters) – Maybelline parent L’Oreal posted a stronger than expected rise in third quarter sales on Tuesday, driven by booming demand for its luxury brands even as it struggled to revitalise sales in its largest mass market division.
The French cosmetics giant said revenues came in at 6.47 billion euros ($7.34 billion) in the July to September period, up 6.2 percent as reported and rising 7.5 percent on a comparable basis. Analysts polled by Inquiry Financial for Reuters had expected sales to rise 5.79 percent.
That marked a pick-up from the 6.3 percent pace of growth notched up a quarter earlier, as revenues from luxury products such as high-end Lancome creams expanded faster than expected.
($1 = 0.8811 euros)
Written by Sarah White; Editing by Sudip Kar-Gupta for Reuters