Strong demand boosts L'Oreal profit

L'Oreal SA says its net profit rose 21 percent in the first half, thanks to strong demand for its Maybelline mascara and Lancome fragrances.

The world's biggest cosmetics firm by sales reported net profit of €1.3 billion ($NZ2.35 billion) for the six months to June 30, up from euro1.08 billion a year earlier.

In Wednesday's statement, L'Oreal chief executive Jean-Paul Agon said the cosmetics giant is confident of further improvement in its market positions and profitability in the rest of 2010.

- AP