L’Oreal has missed analyst estimates for the first half of the year after high spending on advertising ate into margins. The French cosmetics giant revealed last night that operating profit had risen 2% to €1.7bn (£1.5bn) compared to the same period the year before.
French retailing giant Carrefour has posted a half-year loss of €249m and warned full-year profits would be 15% down on last year. Operating profits in its domestic market slumped 40% to €302m in the first six months of the year, with sales slipping 0.2%.
South African wine volumes have overtaken French for the first time, according to latest Nielsen UK off-trade figures.In January, volumes of Cape wines stood at 12.3 million cases, which was just enough to push France into fifth place by...
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