Oriflame reports steady 2008 results
Swedish direct sales company Oriflame has bucked the credit crunch by announcing total net profits of €133.1m, an increase of 15% on 2007’s figures, in its year-end report for 2008.
Swedish direct sales company Oriflame has bucked the credit crunch by announcing total net profits of €133.1m, an increase of 15% on 2007’s figures, in its year-end report for 2008.
It announced that in the three months ended 31 December alone, local currency sales increased by 16% and Euro sales increased by 15% to €394.4m with the net profit here standing at €39.3m. The average size of Oriflame’s sales force also increased by 21% to total 2.8m sales consultants.
Looking at 2008 as a whole, Oriflame has announced that local currency sales increased by 23% and Euro sales jumped by 20% to total €1.39bn.
The company predicts that 2009 will provide above 10% sales growth in local currency terms and, due to unfavourable currency movements, the operating margin is expected to be at 11% at the prevailing exchange rates.