PARIS – Global cosmetics leader L'Oreal says its 2015 profit grew 8.5 percent in the first half, driven by improvement among higher-end makeup and perfume lines including Giorgio Armani, Yves Saint Laurent and Kiehl's.
The French company said in its first-half earnings report released Thursday that total profit amounted to 1.88 billion euros ($2.06 billion), up from 1.73 billion euros in the first half of 2014. Sales growth was the strongest recorded in 20 years, with 12.82 billion euros in sales since January compared to 11.17 billion euros at the same time last year.
The company's mass market division that includes the Maybelline and L'Oreal Paris makeup brands saw slight global gains except for in Brazil.
L'Oreal will continue to expand its presence in the luxury perfume sector.