L’Oréal’s board of directors closed the group's consolidated financial statements and the financial statements of the L’Oréal parent company for 2005. At the end of December 2005, sales amounted to €14.53 billion, up by +6.5%. Operating profit before foreign exchange gains and losses amounted to €2,313 million, up by +12.7%.
“Growth was driven by good performance in North America and new breakthroughs in emerging markets, while the rates of increase were more modest in Western Europe,” said Lindsay Owen-Jones, chairman and CEO, L'Oréal. “Growth in sales combined with strict cost control has enabled us once again to improve profitability and achieve double-digit earnings growth. We are confident about the outlook for 2006 in view of the faster growth in Western Europe at the end of last year and the strong international momentum."