L'Oreal Posts 25 Percent Rise In 2010 Net Profit

PARIS (AP) - L'Oreal SA says its net profit rose 25 percent last year as strong demand for its consumer cosmetics and growth in developing markets in Asia and Latin America spurred higher sales and profitability.

The French cosmetics giant behind brands like Maybelline and The Body Shop says it made ¿2.2 billion ($3 billion) last year, up from ¿1.8 billion in 2009 when earnings were hammered by the global economic downturn.

L'Oreal says in a statement Friday that its consumer cosmetics business, which includes Garnier skin and hair care products and Maybelline makeup, increased sales over 11 percent last year to ¿9.5 billion.

The company forecast further sales and profit growth in 2011.

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