L’Oréal’s Baltic subsidiary closed 2015 with turnover of €40.6 million, down 2 percent on the previous year, according to a report published by Baltic Course.

However, profit was up 9 percent for the cosmetics distributor, reaching €2.64 million versus €2.42 million in 2014.

Established in 2000, L’Oréal Baltic carries out the wholesale of beauty and personal care products from the L’Oréal stable. Based in Latvia, it also operates subsidiaries in Estonia and Lithuania.