L'Oréal: postpones AGM and suspends outlook

(CercleFinance.com) - In the current pandemic, L'Oréal has said that its board of directors has decided to postpone its combined general meeting, which was initially scheduled for 21 April, until 30 June.

It detail the arrangements for the meeting as well as its dividend at a later date.

The group has added that the spread of the pandemic and steps taken by different countries will have a higher impact than initially expected over the coming months on the consumption of care and beauty products and therefore on its business.

The lack of visibility on when this health crisis will end has led L'Oréal to suspend its outlook. The group has said that it expects Q1 sales to fall by around 5% y-o-y.


Copyright (c) 2020 CercleFinance.com. All rights reserved.