The company was clear about the positive impact that its business in China is having. Photo credit - L'Oréal
French cosmetics giant L'Oréal has revealed strong financial results, boosted by its business in China.
Over the third quarter of 2017, the company reported a global overall sales rise of over 5 percent, when compared with the same period last year.
In a press release, the company was clear about the positive impact that its business in China is having:
''In Northern Asia, China is achieving sustained growth, driven by L'Oréal Luxe, and by the strong vitality of e-commerce sales.''
Speaking about the results, Chairman and Chief Executive Officer of L'Oréal Jean-Paul Agon said:
''The highlight of the quarter is the acceleration of our sales in the New Markets, which posted double-digit growth, with strong performances in Asia Pacific, particularly in China, but also in Latin America and Eastern Europe. Western Europe is continuing to deliver a solid performance.''
''The growth in sales continues to be boosted by our digital lead, particularly with the sustained expansion of e-commerce sales at +31.6%.''
''These good performances strengthen our confidence in our ability to once again outperform the cosmetics market in 2017, and to achieve growth in both our sales and profits."