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January 22, 2003
By: TOM BRANNA
L’Oreal, Paris, reported 2002 revenue was up 7.4% to approximately $15.82 billion from $14.73 billion last year. Fourth quarter revenue rose 19% to about $4.24 billion from $3.58 billion. The company said in December that the fourth quarter would be the strongest of the year.Analysts have been looking for signs of fourth quarter recovery in the U.S. market, which accounts for 30% of group sales. Chief executive officer Lindsay Owen-Jones confirms 2002 expectations-but hazards any projection for 2003.
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