PARIS: Revenue at Maybelline maker L'Oreal fell sharply in the second quarter even as online sales surged during lockdowns to fight the COVID-19 pandemic, though the French beauty group managed to contain any major erosion of profit margins.
The group said on Thursday revenues came in at 5.85 billion euros in April-June, down 18.8 per cent on a like-for-like basis, which strips out currency effects and acquisitions.Operating margins stood at 18 per cent at the end of the first half of the year, only slightly down from 18.6 per cent at the end of 2019.
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