L’Oreal, the world’s biggest cosmetics group, said it is well-positioned to outperform its markets in 2011 after it posted higher sales in the first quarter, helped by North America.

The maker of Lancome creams, Yves Saint Laurent lipstick and Garnier shampoo, says its business remained mixed in Europe, where debt-related worries continue to weigh on consumer sentiment, while sales in Japan fell following the earthquake disaster.

L’Oreal generated revenue of 5.16 billion euros ($7.37 billion) in the three months to March 31. Analysts polled by Reuters were expecting sales of 5.106 billion on average.

Sales in North America rose 7.2 percent to 1.12 billion euros on a comparable basis while those in Western Europe grew by 0.5 percent to 1.91 billion, L’Oreal said in a statement.

Revenue in new markets, which include Asia, Eastern Europe, Latin America, Africa and the Middle East, rose 11.6 percent to 1.83 billion euros. L’Oreal added that sales in Japan fell 5.9 percent like-for-like but that it was too early to evaluate the impact on the full year.

The group said in February it expected to beat global cosmetics market growth, seen at 3-4 percent, in 2011, and pledged to lift profits again this year.

Commenting on the figures, Jean-Paul Agon, chairman and CEO of L’Oréal, says:

“The start to this year is encouraging, as it confirms the group’s good dynamics, to which all divisions are contributing, particularly Consumer Products and Luxury Products, driven by the vitality of their major brands: L’Oréal Paris and Maybelline on the one hand, and Lancôme, Giorgio Armani and Kiehl’s, on the other.

In geographic terms, North America is accelerating strongly. Growth continues to be robust in the New Markets, particularly in Latin America, in Asia excluding Japan, and in Africa, Middle East. However, the situation remains more contrasting across Europe.

These performances reflect the quality of our innovations, the force and diversity of the brand portfolio, and the right balance in our geographic positions.

Although it is not possible to extrapolate from these figures, and despite an uncertain exchange rate environment, the first months of the year give us confidence in our ability to outperform the market in 2011, strengthen our worldwide positions, and achieve another year of growth in both sales and profits.”