L’Oreal reports sales boost in Q1 2015

L'Oreal has announced its financial results for the first quarter of 2015, during which it experienced strong growth.

The company's sales for the quarter came to 6.44 billion euros (4.61 billion pounds), up by four percent year on year on a like-for-like basis, or 14.1 percent based on reported figures.

This progress was attributed partly to a favourable monetary environment and positive momentum across all divisions and geographic zones. During the quarter, L'Oreal was able to complete its acquisition of Niely in Brazil and further the integration of the Magic, NYX, Decleor and Carita brands, which were purchased in 2014.

Additionally, the firm is accelerating its digital transformation, especially in terms of brand activation and e-commerce development.

Jean-Paul Agon, chairman and chief executive officer of L'Oreal, said: "In an economic context that is still volatile, we confirm that we are confident in our ability to outperform the market this year once again and to achieve growth in sales and profit."

The company was also recently named in the Ethisphere Institute's annual list of the world's most ethical businesses for the sixth consecutive year and ranked among the most innovative global organisations by Fast Company.