L'Oréal disappoints financial market

Published: 14-Jul-2011
Finance

Q2 rise below market expectations


L'Oréal's share price fell 3.36% to €84.94 on the Paris Bourse as the market registered disappointment at its second quarter growth figures.

The company posted a rise in organic growth terms in the quarter of 4.6% compared with 5.8% organic growth in the first quarter of 2011 and considerably below market expectations of growth between 5.5% and 6%.

Overall growth for the group in the reporting quarter was 0.9% with sales at €4.99bn, affected by lower sales in North America and eastern Europe.

Paris-based analysts have been busy second-guessing the company's prospects for the year as a whole, some arguing that L'Oréal's organic growth target of 4% is too cautious and that the company is capable of 6% growth. The figures for the second quarter have tended to justify L'Oréal's caution but the group has said it is confident it can outperform the world cosmetics market this year in terms of both sales and earnings.
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