L’Oréal UK Posts Strong Results for 2024 as Online Growth Accelerates

L’Oréal UK has reported a robust financial performance for 2024, with strong growth across turnover, profit margins, and post-tax earnings, signaling continued momentum for the beauty powerhouse.

Turnover rose 8.6% to nearly £1.559 billion, up from just under £1.435 billion the previous year. Operating profit climbed to £241.4 million from £212.8 million, while the operating profit margin improved to 13.4%, building on a 14.8% increase in 2023. Profit after tax also saw a solid rise, up 9.9% to £185.2 million.

Reflecting this strength, the company paid a dividend of £168.4 million to its parent group, up from £148.6 million in 2023.

L’Oréal UK, which operates across its Consumer Products, Luxe, Professional Products, and Dermatological Beauty divisions, attributed its success to growth in both volume and value, alongside disciplined cost management. The company noted that the UK beauty market expanded in all categories in 2024, with online sales outpacing physical retail nearly threefold.

The business gained market share across all distribution channels, particularly in fragrances, haircare, and make-up. It also highlighted the continued shift toward e-commerce—a trend that began during the pandemic and shows no signs of slowing.

Despite economic challenges, L’Oréal UK remains optimistic, forecasting further growth and maintaining strong profit margins in the year ahead.