L’OREAL annouces negative results for 2009, yet shows optimism about 2010
World leader in the cosmetics industry, French giant L’OREAL announces an 8% drop in profits for 2009 to EUR 1,79 billion for a turnover of EUR 14,47 billion.
A company press release also explains that the drop in profit margins is due to the higher expenditures on advertising and promotion. The company expresses a return to higher levels of profits in 2010.
In 2009, the most affected regions for L’OREAL have been EUROPE (6,3% drop) and USA (3,4% drop).