L'Oreal sees temporary hit on Asia sales from China virus

Maybelline maker L'Oreal said on Thursday China's coronavirus health crisis would have a short-term hit on its sales in the country and across Asian airports, after a period of booming business in the region. Thriving appetite from Chinese consumers for luxury creams such as L'Oreal's Lancome range has fuelled sales growth at the group, which exceeded expectations in the fourth quarter.

L'Oreal said in a statement revenue reached 7.9 billion euros ($8.67 billion) in the October to December period, up 11.4% on a reported basis and rising 9.6% like-for-like, which strips out acquisitions and currency swings. That was up from like-for-like growth of 7.8% in the previous quarter, and several analysts had expected L'Oreal's fourth-quarter performance to be similar. ($1 = 0.9109 euros)