(Reuters) - Cosmetics firm Oriflame (ST:ORIFL) said on Friday its sales growth had slowed in the fourth quarter, sending its shares sharply lower.
• Says sales in local currencies grew around 7 percent so far in Q4, compared to about 13 percent from the beginning of the year.
• Q3 sales increased by 12 percent, last time when the growth was less than 7 pct was in Q4 2015.
• CEO Magnus Brannstrom says the slowdown is mainly due to difficult comparisons as well as market volatility in India, Mexico and Egypt, which also give some concern ahead
• Oriflame's shares fell 15 percent by 0919 GMT and are set for their biggest drop ever.
• The stock has still roughly doubled since the beginning of this year.
• Third-quarter operating profit was 25.2 million euros, matching a market forecast of 25.4 million.
• Q3 operating margin was 9.0 percent (7.3 percent), impacted by -160 bps from currencies.
• Company says strong performance in Asia, Turkey and Latin America continued, while in the CIS countries the focus remains on returning to sustainable growth and improving margins.
• Sales in Russia decreased by 2 percent and the company says the situation in Ukraine is challenging.
• Number of active consultants decreased in total by 5 percent to 2.6 million, a drop of 27 percent in the CIS region.