L'Oreal shares bounce on third-quarter sales

By Reuters News

By Dominique Patton

PARIS, Oct 23 (Reuters) - Shares in L'Oreal opened 4.8% up on Friday after the French cosmetics group reported third-quarter sales well ahead of expectations, helped by strong demand for premium products in China and elsewhere.

Sales from July to September rose 7.7% on an adjusted like-for-like basis to €11.56 billion ($12.95 billion), topping a consensus analyst forecast of 5.9% growth in a Visible Alpha poll, L'Oreal said late on Thursday.

The shares were up 3.2% at 426.6 euros ($478.22) by 0710GMT. They are up 16% year to date.

($1 = 0.8921 euros)

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