Oriflame has reported good results for the period ending 30 June 2008. The natural Swedish cosmetics brand saw local currency sales increase by 21% and Euro sales increase by 15% to €311m, in comparison to €269.6m for the same period in 2007.
Operating profit increased by 11% to €41.9m. But the operating margin, before restructuring costs due to the new operational platform, was 13.5%, 0.5% down from the second quarter of 2007.
Nevertheless, Oriflame is predicting that operating margins before restructuring for 2008 will improve on last year, despite the prevailing exchange rate environment. In addition, sales growth for 2008 is expected to be above 15% in local currency.