L'Oreal said today net operating profit rose a stronger-than-expected 26.3 per cent in first-half 2001.
The world's biggest cosmetics firm predicted strong growth and improved margins for the full year.
Closely watched net operating profit came in at euro 87.1 million against euro 465 million last year - fuelled in part by the strong contribution of partly owned pharmaceuticals group Sanofi-Synthelabo.
In the first half of the year, sales in North America grew 29.8 per cent overall and 9.3 per cent on a like-for-like basis.
Outside North America and Western Europe, sales were up 15 per cent, or 14.5 per cent on a like-for-like basis.
Despite the less favourable economic climate in the main markets, L'Oreal was able to maintain strong growth in sales and profit, company chairman and chief executive Mr Lindsay Owen-Jones said.