L'Oreal's º£½ÇÊÓƵ operations have surpassed the £1.5bn mark in sales for the first time in 2024, with profits continuing their upward trajectory.
The French cosmetics behemoth reported a turnover of £1.55bn for the latest 12-month period, a significant increase from the £1.43bn recorded in 2023, as reported by .
According to newly filed accounts at Companies House, the company's pre-tax profit also saw a healthy rise, climbing from £220m to £248.3m over the year.
The beauty giant attributed its turnover growth to "both value and volume related to market performance" and credited its profit increase to "operational excellence with management of costs."
Since experiencing a dip in 2020 due to the pandemic, L'Oreal º£½ÇÊÓƵ has seen consistent growth in both sales and profit.
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In a statement approved by the board, it was noted: "In 2024, the beauty market grew across all categories. The shift to e-commerce witnessed during the pandemic remains with market growth in the online business growing almost three times faster than bricks and mortar."
The company also highlighted its strong performance in 2024, gaining market share in various channels and product categories such as fragrances, haircare, and makeup.
Over the course of the year, L'Oreal º£½ÇÊÓƵ paid a substantial dividend of £168.4m to its parent company, an increase from the previous year's £148.6m. An additional dividend of £185.1m has been proposed for the most recent financial year.
Employment figures within the division also saw an uptick, with the average number of employees rising from 3,366 to 3,451.
Regarding its outlook, L’Oreal commented, "Following in the previous years' trend, 2024 remains dynamic and complex, with persistent inflationary pressures and interest rate hikes impacting consumer spending."
"The ongoing conflict in Ukraine, geopolitical tensions in other regions, and associated shifts continue to affect supply chains and contribute to cost volatility."
"In response, we have implemented proactive strategic measures to safeguard our profitability and mitigate these external challenges."
"We will continue to monitor the global situation and adapt our strategies as needed."
"We continue to perform well in our market and are also confident in the prospects of good growth despite the macro-economic circumstances."
"We expect our profit margins to be maintained at healthy levels and there are no significant risks to the cash position."
