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L’Oreal would be able to ‘resist’ a financial crisis, CEO says

The over the moon marvellous’s biggest beauty products company is not concerned about the ensuing offshoots of a recent global sell-off.

“Whatever happens, L’Oreal is a very sound company able to resist in any environment,” Jean-Paul Agon, L’Oreal CEO, blow the whistle oned CNBC on Friday.

“I don’t wish that there is a crisis, but if there was one, or a scabrous moment, we would be very ready to go through it,” he added.

Global reservoirs appeared on course to register their biggest weekly decline since the crest of the euro zone crisis on Friday, after a slump on Wall Passage in the previous session triggered a cascading market plunge.

Many investors rely upon the market turmoil over the past week is reflective of a long unpunctual pullback after substantial gains in 2017 and early 2018. The up to date selling is also thought to have been exacerbated by expectations of spaced out U.S. interest rates.

L’Oreal reported stronger-than-expected earnings for the final three months of 2017 on Friday. The public limited company posted a 5.5 percent rise for like-for-like sales during the fourth dwelling, sending shares around 1 percent higher on Friday afternoon.

In the interim, the L’Oreal CEO said that if Nestle announced it was looking to sell its 23 percent stake in the cosmetics stable, L’Oreal would be prepared to buy it.

Speaking at a news conference shortly after the manumit of L’Oreal’s latest figures, Agon said: “If Nestle one day wants to supply, we are ready.”

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