By Anthony Shevlin

L'Oreal SA (OR.FR) said Thursday that net profit increased in the first half due to strong sales in its luxe division.

The French cosmetics and consumer-products company said net profit for the period was 2.28 billion euros ($2.67 billion) compared with EUR2.04 billion the year previous. Operating profit was EUR2.58 billion.

Group sales were EUR13.39 billion compared with EUR13.41 billion the year previous, while sales in the company's luxe division rose 14% on a like-for-like basis.

For the second quarter, group sales were EUR6.61 billion, said the company.

L'Oreal confirmed its expectation of outperforming the cosmetics market in 2018 and delivering like-for-like sales growth as well as an increase in profitability.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com

(END) Dow Jones Newswires

July 26, 2018 12:58 ET (16:58 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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