L'Oreal Q4 like-for-like sales growth beats expectations
PARIS Feb 10 (Reuters) - French cosmetics company L'Oreal on Monday posted a better-than expected sequential improvement in like-for-like sales in the fourth quarter, helped by solid demand in America and resilient trading in Western Europe.
The maker of Garnier shampoo and Biotherm cream said sales growth in the three months to Dec. 31 reached 5.4 percent, beating analysts' forecasts of 4.5-5.0 percent and growth of 4.1 percent reported for the previous quarter.
L'Oreal said its operating margin improved over the course of last year to reach a record level of 16.9 percent against 16.7 percent in 2012. (Reporting by Astrid Wendlandt, editing by James Regan)
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