For the three months ended 30 September 2014, Oriflame recorded an increase in local currency sales of 1% and a decrease in euro sales of 7% to €274.5m.
Adjusted net profit amounted to €11.8m. Cash flow from operating activities amounted to €-4.9m.
"The Board of Directors will continue to prioritise reducing the debt during the forthcoming quarters to ensure that the company remains financially strong. As a consequence, the Board has decided for no dividend payment in Q1 2015," said Oriflame.
CEO Magnus Brännström commented: “As mentioned in connection to the second quarter report, we began to see positive effects from the strategic initiatives carried out in the CIS. While the geopolitical situation remains uncertain these positive effects start to result in overall improved development. Currency movements continued to impact us negatively in the quarter, although with consistent price increases and implementation of cost saving initiatives, we managed to offset most of the impact. We have continued challenges ahead of us, especially related to exchange rates and macro-economic development in some of our main markets. At the same time, I am very pleased to see continued strong development in Latin America, Turkey, Africa & Asia.”
