LONDON — Swedish direct seller Oriflame reported its fourth-quarter profits increased 6 percent to 41.5 million euros, or $61.3 million, as sales in the three months ended Dec. 31 decreased 2 percent to 382.5 million euros, or $565 million. Sales in local currencies grew by 14 percent.

This story first appeared in the February 15, 2010 issue of WWD. Subscribe Today.

Dollar figures have been converted at average exchange for the period.

For the full year, profits slumped 24 percent to 101.7 million euros, or $141.8 million, while sales were flat at 1.32 billion euros, or $1.84 billion. Sales in local currencies increased by 15 percent.

The company highlighted skin care and wellness as its fastest-growing categories in the fourth quarter in terms of units sold. Fragrances also performed “strongly” in 2009, according to the firm. Fourth-quarter scent introductions included Grace, Giordani Men and Glacier.

“We are happy to conclude 2009 by reporting continued healthy growth, [a] strengthened sales force and strong cash flow in an environment characterized by global economic difficulties,” stated Magnus Brännström, the company’ chief executive officer. “In 2010, sales growth is expected to be in line with our long-term target and operating margins are expected to be above 12 percent at current exchange rates.”

load comments
blog comments powered by Disqus