News Source: Hemscott
"Oriflame Cosmetics said first quarter pretax profits rose 7 percent, boosted by the introduction of a new operating platform as sales soared by over 20 percent.
Pretax profits, including 4.9 million euros of restructuring charges, rose to 37.9 million euros from 35.4 million, the Swedish cosmetics company said.Local currency sales increased by 26.5 percent and euro-denominated sales by 20.7 percent to 324.2 million euros.
The operating margin inched up to 15.5 percent from 15.4 percent, while diluted EPS including restructuring costs was 0.58 euros from 0.55.
The company reiterated its 2008 guidance for sales growth of well above 10 percent in local currencies, and for higher operating margins.
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