May 4, 2018 / 5:28 AM / 24 days ago

BRIEF-Oriflame Q1 operating profit, sales below forecasts

May 4 (Reuters) - Oriflame Holding AG:

* Q1 OPERATING MARGIN WAS 9.2% (8.8%), NEGATIVELY IMPACTED BY 320 BPS FROM CURRENCIES, AND OPERATING PROFIT WAS EUR 30.6M (EUR 29.8M)

* Q1 LOCAL CURRENCY SALES INCREASED BY 8%

* Q1 EURO SALES DECREASED BY 2% TO EUR 334.1M (EUR 340.1M). EURO SALES AMOUNTED TO EUR 330.8M* IN ACCORDANCE WITH IFRS

* MARKET EXPECTATIONS FOR Q1 SALES WERE AT 340 MLN EUR, EBIT AT 33.3 MLN IN REUTERS SURVEY OF 3 ANALYSTS

* SAYS DEVELOPMENT IN Q2 TO DATE IS APPROXIMATELY -2% IN LOCAL CURRENCY

* SAYS RUSSIA SHOWED A NOTABLE SLOWDOWN DURING SECOND PART OF Q1 DUE TO BOTH A WEAKER CONSUMER OFFERING AND TOUGHER COMPETITIVE ENVIRONMENT

* SAYS START OF Q2 HAS BEEN NEGATIVELY IMPACTED BY TIMING OF CATALOGUES IN CIS AS WELL AS CONFERENCES IN MOST REGIONS

* SAYS WE ARE TAKING MEASURES WHERE WE MEET SALES CHALLENGES AND REMAIN CONFIDENT IN OUR LONG-TERM STRATEGY Source text for Eikon: Further company coverage: (Reporting by Stockholm Newsroom)

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