L’Oréal UK Surpasses £1.5bn in Sales for the First Time

THE WHAT? L’Oréal’s UK business has reported record turnover, exceeding £1.5bn in sales for the first time in 2024, alongside a rise in pre-tax profit to £248.3m.

THE DETAILS According to newly filed accounts with Companies House, L’Oréal UK achieved a turnover of £1.55bn for the financial year, up from £1.43bn in 2023. Pre-tax profits rose from £220m to £248.3m. The company cited increases in both value and volume driven by market performance, as well as improved cost management. The cosmetics giant also reported gaining market share across all categories, including fragrances, hair care, and make-up, and highlighted the continued outperformance of online channels, which are growing almost three times faster than physical retail. A dividend of £168.4m was paid to the parent company, with a further £185.1m proposed for the latest financial year.

THE WHY? The results reflect sustained consumer demand in the UK beauty market, supported by strong online performance and resilience across core categories. L’Oréal’s continued investment in e-commerce and operational efficiency has enabled it to maintain profitability despite economic pressures such as inflation and global supply chain disruptions. With personal care and cosmetics categories outperforming, L’Oréal UK remains confident in its growth outlook for the coming year.

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