L'Oreal sales rise 10.5% in first half

L'Oreal, the world's biggest cosmetics company, reported on Thursday continued growth, with sales rising by 10.5 percent in the first half of 2012 to 11.2 billion euros ($13.77 billion). "L'Oreal recorded a good first half. In a market which reflects contrasting trends but is favourable overall, all branches, divisions and geographic zones achieved growth," chairman and chief executive Jean-Paul Agon said in a statement. Agon said L'Oreal was "growing fast" in North America with large market share gains and after the acquisition of skin care company Clarisonic. The company said new markets were now its number one geographic zone, "driven by the dynamism of Asia and Africa, Middle East". "Despite the uncertain economic environment, we are confident in the group's ability to outperform the market in 2012, and to achieve another year of solid growth in both sales and profits," Agon said.