PARIS, April 18 L'Oreal reported
slightly higher than expected first-quarter sales, driven by
solid demand for its mass market and luxury products in North
America, China and the Gulf states.
The world's biggest cosmetics group generated revenue of
5.93 billion euros ($7.76 billion)in the three months to March
31, up 5.5 percent on a like-for-like basis, above analysts'
expectations of 5.2 percent sales growth.
For 2013, the maker of Garnier shampoo, Biotherm and Lancome
creams and Yves Saint Laurent perfume reiterated its target to
outperform the market and increase both sales and profits.
By comparison, rivals such as LVMH's cosmetics and
perfume division which makes Dior and Guerlain perfumes, saw
like-for-like revenue rise 5 percent during the period.
($1 = 0.7644 euros)
(Reporting by Astrid Wendlandt; Editing by Lionel Laurent)