For leading cosmetic company L’Oreal, share results are looking largely positive as first half operating profit have beaten the estimations of analysts. Stock “climbed 2.92 euros, or 3.9 percent, to close at 78.69 euros, after earlier surging as much as 10 percent”, with a 21 percent to 1.67 billion euros ($2.12 billion) rise in profit.
The great results stem from L’Oreal focusing on higher gross margin luxury beauty and fragrance items, such as the Giorgio Armani, Ralph Lauren and Viktor and Rolf products.
Image credit: giorgioarmanibeauty.com
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