Jean-Paul Agon
«Growth moves up a gear. We are preparing for the future.»
« Dear Shareholders,
The growth of your group is clearly accelerating. With a figure of +7.7% like-for-like at the end of September, it is at the upper end of the +6% to +8% long term target range we set ourselves last year. In August, this led us to revise our sales target upwards for the full year 2007. This is a strong indication of our ability to grow faster than the cosmetics market - which itself is very buoyant - and therefore to continue to win market share all over the world. Although the negative impact of the exchange rate has increased throughout the year, we are also well on the way to achieving a 23rd consecutive year of double-digit results growth. (...)
We therefore have every reason to be optimistic: the quality of our teams, our ability to innovate, the power of our brands and the dynamism of our globalisation are offering us great opportunities. We are determined to grasp them. »
Jean-Paul Agon,
Chief Executive Officer,
Letter to Shareholders'extract
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