Positive Q1 results for Oriflame
Local currency sales up 2%
Swiss direct seller Oriflame has reported a 2% rise in local currency sales in the first quarter of this year and Euro sales were in line with last year at €395.7m.
However the average size of Oriflame’s sales force was down by 5% to 3.6m consultants and the closing sales force was down by 6%.
Oriflame ceo, Magnus Brännström comments: “I am pleased with the first quarter results, despite the lower average sales force, primarily coming from the setback in recruitment during the end of the third quarter of 2011. Our efforts to return to growth and improve profitability have led to promising results on sales, productivity and margins – however market dynamics do remain challenging.
“It is also important to highlight the cash flow, further reducing the net debt. In addition to these achievements in the coming quarter we will focus on the growth of the sales force and thereby lay a solid foundation for the future.”