Oriflame Q3 Profit Above Forecast

  |   05 November, 2014   |   274   |   3980

Oriflame Cosmetics Russian sales stabilized in the third quarter after the beauty products retailer made changes to a compensation plan for sales representatives in the country. The stock rose the most in more than a decade.



Oriflame's adjusted operating profit totalled 19.7 million euros (15.44 million pounds), topping a mean forecast of 16.8 million in a Reuters poll of analysts.  Revenue in Russia rose 1 percent at local currency rates in the three months through September, the Luxembourg-based company said, the first growth in more than a year.



Oriflame, which gets about half of sales from the countries of the former Soviet Union, reported estimate-beating third-quarter earnings, resulting in a record share rise.