Market Session difficult for L'Oreal
Around 11:30, the title L'Oreal fell by 2.29% to 69.7 euros on the CAC 40, in a market down slightly from 0.20%. The group's quarterly results released yesterday did not surprise investors, who anticipated the return to growth and bought securities they sell now. In addition, Societe Generale has revised down its rating on the stock following its figures from "buying" to "hold" value. Normal in these circumstances, the title of L'Oreal suffer clearances.
The world of cosmetic Thursday reported a turnover of 4.23 billion euros over the period, up 0.8% on a comparable basis."Despite a market that remains difficult, the renewed growth of the cosmetics business in the 3rd quarter was very encouraging and confirms the gradual improvement in sales that we announced," said Jean-Paul Agon, CEO of the group cosmetics. "Each division has improved its performance over the first half," the statement said.
In the nine months of the current year, group sales fall slightly increased by 0.7%, to 13 billion euros (-1.9% on a comparable basis). During a conference call, the chief financial communications Thierry Pr?vot said that L'Oreal has benefited from the dynamism of emerging products, where sales growth "increases quarter after quarter."Sales rose by 18.5% in Asia, but the group continues to record sales declined in Western Europe (-3.5%), in Eastern Europe (-15.3%) or Latin America (-3.8%).