LONDON (ShareCast) - L’Oréal’s Chief Executive Officer Jean-Paul Agon is 'very confident' of the cosmetic giant’s 2012 outlook, according to an interview published on Tuesday in French newspaper Le Figaro.

The French company reported an 8.9% jump in 2011 net profits on Monday, after the close of trading, to €2.44bn. Its sales rose 4.3% to €20.34bn thanks to business in emerging markets such as China or Brazil.

Agon notes that these markets should make up about 40% of 2012 sales compared to the 8% they had 20 years ago. The Chief Executive did admit that sales have been weak in Western Europe due to the crisis but feels that the market “can still grow in Europe”. He expects total market growth of 4% this year.

L’Oréal is currently the second biggest advancer in the CAC as it moves up 1.69% to €83.03.

JM

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