L'Oreal 2019 Net Profit Fell, Confident for 2020 Despite Coronavirus
06 Febbraio 2020 - 7:01PM
Dow Jones News
By Cristina Roca
L'Oreal SA (OR.FR) said Thursday that its net profit fell in
2019 even as sales rose strongly, and that it is confident it can
continue to grow its top line and earnings in 2020 despite the
headwinds posed by the coronavirus outbreak in China.
Net profit for 2019 was 3.75 billion euros ($4.13 billion), down
from EUR3.9 billion the year before, the French cosmetics and
consumer-products company said.
L'Oreal posted fourth-quarter sales of EUR7.88 billion, up 11%
from the same period the year previous and rising 9.6% on a
like-for-like basis.
Sales for the year were EUR29.87 billion, up 11% from 2018 and
slightly higher than analysts' expectations of EUR29.75 billion
according to a consensus estimate provided by FactSet.
The company declared a dividend of EUR4.25 per share, compared
with EUR3.85 per share the previous year.
Commenting on the coronavirus outbreak, the company said that it
expects the situation to temporarily affect the beauty market in
the region.
L'Oreal said this should hit its China and Travel Retail Asia
business, although it is too early to assess the extent of the
impact.
The company said that, at this stage, it remains confident that
it can outperform the beauty market and grow its sales and profits
for 2020.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
February 06, 2020 12:46 ET (17:46 GMT)
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