Oriflame saw improvements to its bottom line in the third quarter, the cosmetics firm said Friday.
The Switzerland-based company posted a profit of €12.7 million, or €0.23 a share, up from €4.9 million, or €0.09 a share, in the third quarter of 2015. Operating margin was 9.0 percent and operating profit was €25.2 million, narrowly missing the analyst consensus of €25.4 million, according to a poll by Reuters.
Overall sales rose 12 percent in local currency and 6 percent in euros to €278.9 million. Analysts had predicted revenue of €280.0 million. “The strong performance in Asia & Turkey and Latin America continued, while in the CIS the focus remains on returning to sustainable growth and improving margins,” CEO Magnus Brännström said in the company’s release.
The company’s active consultant count dipped 5 percent in the quarter to 2.6 million.
Year-to-date sales growth—about 13 percent in local currency—has slowed in the fourth quarter, which is up just 7 percent to date. Management said the slowdown reflects a slightly tougher comparison in the beginning of the quarter as well as volatility in markets such as India, Mexico and Egypt.
*At the time of this writing, 1 Euro = 1.09 US Dollar