February 21 PARIS - French cosmetics giant L'Oreal said Thursday that its net profit rose 19 percent last year led by strong sales in Russia, China and South Africa.
The company, whose brands include Maybelline and Lancome, said that profits rose to 1.23 billion euros (USD 1.07 billion) for 2001, up from 1.03 billion euros (USD 896 million) the year before.
Strong growth in several key international markets offset a dip caused by the Sept. 11 terror attacks in the United States, the company said.
L'Oreal said that revenue rose 52 percent in Russia last year, exceeding the 100 million euro (USD 87 million) mark for the first time.
Revenue was up 26 percent in China, 27 percent in South Africa and 26 percent in Thailand.
The company said its operating profit rose 5.8 percent to 1.63 billion euros (USD 1.42 billion) in 2001 on an 8.4 percent rise in revenue to 13.74 billion euros (USD 11.95 billion).
In 2000, L'Oreal posted an operating profit of 1.54 billion euros (USD 1.34 billion) and revenue of 12.67 billion euros (USD 11.02 billion).
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