×
155
Fashion Jobs
PRIME PLACEMENT AND MANPOWER SERVICES
International Sales Executive - Female - Khokhra - Ahmedabad
Permanent · Ahmedabad
CAPITAL PLACEMENT SERVICES
Cfo For International Funding For 1000 Crore Company in Gujarat
Permanent · Vadodara
NEEJ
Business Development Manager
Permanent · MUMBAI
LIFESTYLE BRANDS
Regional Sales Manager, Peter England - Bangalore
Permanent · BENGALURU
KITEX GARMENTS LIMITED
General Manager - Merchandiser
Permanent · ALUVA
ZODIAC CLOTHING CO LTD
Sourcing Officer (Fabric & Garment)
Permanent · MUMBAI
LIFESTYLE BRANDS
Head of Marketing, Louis Philippe - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Group Manager - E-Commerce Product (B2B)
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Product, Louis Philippe
Permanent · BENGALURU
PANTALOONS HO
Senior Executive - Marketing
Permanent · PUNE
LIFESTYLE BRANDS
Manager - Trade Channel, Finance
Permanent · BENGALURU
LIFESTYLE BRANDS
Executive -Key Accounts (Mis),lp
Permanent · BENGALURU
LIFESTYLE BRANDS
Senior Executive - Garment Technician (ww &Amp; Kids), Pdqa
Permanent · BENGALURU
LIFESTYLE BRANDS
Sales Executive - Kannur &Amp; Kasargod
Permanent · BENGALURU
HIGH FASHION GARMENT COMPANY
Manager Humanr Resource (Male) From Mumbai Only
Permanent · MUMBAI
RAJ KHATRI FILMS PVT LTD
Digital Marketing Executive
Permanent · MUMBAI
ANANDGUPTA COUTURE
Social Media Marketing & Fashion Design Assistant
Permanent · MUMBAI
DESIGNR
Sales Officer
Permanent · NEW DELHI
NETE.IN
CRM & Logistics Executive
Permanent · MUMBAI
FABINDIA OVERSEAS PVT. LTD.
Retail Planner
Permanent · NEW DELHI
SELECTIVE GLOBAL SEARCH PVT. LTD.
Business Development
Permanent · NEW DELHI
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · KARIMNAGAR

Oriflame scraps dividends this year as Russia, Ukraine weigh

By
Reuters
Published
today Feb 11, 2015
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

STOCKHOLM, Sweden - Swedish cosmetics maker Oriflame said on Wednesday it would pay no dividends in the next four quarters because uncertainty remained in its key markets, despite posting fourth quarter earnings slightly higher than expected.

Oriflame warned two weeks ago its operating margin excluding one-offs would decline to just below 8 percent in the fourth quarter from 12.6 percent a year earlier as currency swings weighed and investments in former Soviet states had become more costly than anticipated.

Photo: Oriflame


Nevertheless, the company's adjusted operating profit in the quarter reached 29.8 million euros ($33.7 million) and adjusted operating margin fell to 8.4 percent from 12.6 percent, slightly above the forecast.

Analysts had expected an adjusted operating profit of 28.0 million euros, according to Reuters poll.

Oriflame said so far during this quarter, underlying sales have risen around 1 percent in local currencies.

"The slower local currency sales development in the first quarter (so far) reflects the continued external challenges and uncertainties we are likely to be faced throughout 2015," Chief Executive Magnus Brannstrom said in a statement.

Oriflame, which generates a third of its sales in Russia, said the board would not seek a mandate to pay dividends for the next four quarters after failing to pay dividends in the last three quarters due to political tensions in Russia and Ukraine.

The company said the number of active consultants was unchanged at 3.5 million in the fourth quarter compared to the same quarter in 2013.

Shares in Oriflame, which recently opened a large production facility close to Moscow, have fallen almost 40 percent in the past year as the economy in Russia and Ukraine deteriorated.

€1 = $1.13/£0.74

© Thomson Reuters 2019 All rights reserved.