L'Oreal FY21 Profit Rises

(RTTNews) - Cosmetics and beauty products giant L'Oreal Co. (LRLCY.PK), reported that its net profit of 4.597 billion euros or 8.21 euros per share for 2021, up from 3.563 billion euros or 6.34 euros per share from last year.

Earnings per share attributable to owners of the company, excluding non-recurring items, were 8.82 euros compared to 7.30 euros last year.

Operating profit increased by 18.3% to 6.160 billion euros from 5.209 billion euros last year.

Annual group sales rose to 32.287 billion euros from 27.992 billion euros last year. On a Like-for-like basis, group sales rose 16.1%.

Commenting on the figures, Nicolas Hieronimus, Chief Executive Officer of L'Oréal, said: "2021 was a historic year for L'Oréal. Thanks to the expertise, passion and commitment of our 85,400 L'Oréalians around the world, the Group achieved record growth of +16.1%1, twice that of the worldwide beauty market. L'Oréal gained market share in all Zones, Divisions and categories. Over two years, the Group achieved growth of +11.3% like-for-like, spectacularly outperforming a market that had returned almost to 2019 levels."