Shares of the world’s largest cosmetics company L’Oreal surged as much as 10% after reporting strong, better-than-expected growth after the bell on Wednesday.
Organic sales growth in the first quarter was 7.6%, compared to expectations of around 3%, according to analysts.
Underlying growth was “very impressive”, Barclays analysts said. “The 4% growth in the cosmetics market shows no signs of slowing down,” they said. “It is [L’Oreal’s] The beauty recovery plan is resulting in even greater market share gains, even in times of volatility. »
Shares were last up 8.2%.
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