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Oriflame Cosmetics (0HG6)

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Monday 23 August, 2010

Oriflame Cosmetics

Oriflame Cosmetics - Operations in Iran closed ...






As earlier communicated, business conditions in Iran has deteriorated in recent
months.

The authorities have now closed Oriflame's operation in Teheran. The authorities
have also detained three members of staff and two sales consultants without
disclosed reasons. Oriflame has not at present access to detailed information
relating to the background to or effects of the current situation.

Iran represents some 20% of the sales in the Asia region. Despite the
development in Iran, Oriflame confirms the Group's outlook for 2010 in regard to
sales, whereas the operating margin, due to potentially lost sales in Iran, is
now expected to be around 12% for the full year (earlier communicated to be
above 12%). In addition, a definite closure of the operations in Iran may lead
to extraordinary costs in 2010 of approximately €10 million.



For additional information, please contact:
Gabriel Bennet, CFO, telephone: +41 798 263 713


[HUG#1439412]





Release in PDF: 


http://hugin.info/134730/R/1439412/383834.pdf




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Source: Oriflame Cosmetics via Thomson Reuters ONE
  



              

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