November 2, 2017 / 5:14 PM / 22 days ago

Luxury unit drives sales beat at L'Oreal in Q3

PARIS, Nov 2 (Reuters) - L‘Oreal, the world’s biggest cosmetics company, on Thursday posted a 5.1 percent rise in comparable sales in the third quarter, slightly beating analyst forecasts as its luxury creams and make-up lines drove growth.

Revenue came in at around 6.1 billion euros ($7.10 billion) across the group in the three months to end-September, versus the 6.08 billion euros expected in a poll of analysts carried out by Inquiry Financial for Reuters.

Sales in L‘Oreal’s luxury division, which includes brands Lancome, Kiehl’s and Yves Saint Laurent beauty products, rose by a higher-than-expected 11.2 percent on a like-for-like basis, which strips out currency swings and disposals or acquisitions.

However, in the consumer products unit - the biggest contributor to revenue - comparable sales were a touch below forecasts.

$1 = 0.8576 euros Reporting by Sarah White; Editing by Sudip Kar-Gupta

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