L’Oréal’s sales in the UK surpassed £1.5bn for the first time, new company accounts reveal.
The French beauty giant reported turnover of £1.55bn in the 12 months to 31 December 2024.
That’s an 8.6% rise from £1.43bn in 2023, according to the latest filings with Companies House in the UK.
Pre-tax profit was £248.3m for the year, up from £220m a year earlier.
The rise in turnover was driven by “both value and volume related to market performance”, read a company statement, and profits increased as a result of increased turnover and “operational excellence with management costs”.
The owner of NYX and Maybelline said the beauty market grew across all categories and gained market share across all channels, including fragrance, hair care and make-up.
A shift to ecommerce seen in the Covid-19 pandemic has continued and its online business grew three times faster than bricks-and-mortar.
The year "remained dynamic and complex”, with inflationary pressures and interest rate hikes impacting consumer spending, it noted.
In its future outlook, L’Oréal UK said: “The ongoing conflict in Ukraine, geopolitical tensions in other regions, and associated shifts continue to affect supply chains and contribute to cost volatility.
“In response, we have implemented proactive strategic measures to safeguard our profitability and mitigate these external challenges.
“We will continue to monitor the global situation and adapt our strategies as needed.”
The company added that it was “confident in the prospects of good growth despite the macro-economic circumstances” and that it expects to maintain profit margins “at healthy levels”.
L’Oréal Groupe is due to report on its first quarter worldwide sales in an update to the markets tomorrow (17 April).
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