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L'Oreal Q3 sales beat forecasts as China demand picks up

By Reuters News9 hours ago Updated

By Dominique Patton

PARIS, Oct 22 (Reuters) - French cosmetics group L'Oreal OREP.PA beat third-quarter sales forecasts on Thursday, boosted by demand for luxury perfumes, skincare and hair products, particularly in China and emerging markets.

The maker of CeraVe moisturiser and Prada perfumes said sales from July to September rose 7.7% on an adjusted like-for-like basis to €11.56 billion ($12.95 billion), topping analysts' consensus forecast for 5.9% growth in a Visible Alpha poll.

"The global beauty market, once again, proved its resilience in a challenging context — and we continued to significantly outpace it," CEO Nicolas Hieronimus said in a statement.

($1 = 0.8927 euros)

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