L'Oreal sees sales rise 4.7 percent in first half

Associated Press + More

PARIS (AP) — French cosmetics company L'Oreal says its revenue rose 4.7 percent in the first half of the year, driven largely by sales outside Western Europe.

The company behind Lancome and Maybelline said Tuesday that its revenue grew to 11.7 billion euros ($15.4 billion) in the January-to-June period. That's exactly in line with the average expectation of analysts surveyed by FactSet.

The company, known for reliably turning in profits, acknowledged that growth was slowing somewhat. But it seems to be resisting the crisis felt by other European companies. That's partially because it makes more than half of its revenue outside of Western Europe. Sales for the first half were up 6.7 percent in North America and 7 percent in emerging markets. Even Western Europe saw a bump of 1.6 percent.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.