Natura &Co has reported its results for the second quarter of the financial year. While net revenue was up 13.6 percent, with each major brand delivering growth on a pro forma basis in BRL, profit expectations were ‘badly missed’ according to a report published by Reuters.
Net income for the quarter totalled BRL31.8 million, down 81 percent on the same period a year ago and considerably below the general estimate of BRL100 million. Natura &Co attributed this to ‘debt servicing costs and The Body Shop’s transformation costs’.
“We are very pleased with the second quarter results. Natura continues to revitalize its business model through its revamped relationship selling approach, digitization and growing multichannel presence; The Body Shop’s ongoing transformation plan is delivering encouraging initial results and Aesop continues its stellar growth trajectory,” said Roberto Marques, Chairman of the Board at Natura &Co. “Natura &Co is well positioned to deliver further growth, reach its medium-term and long-term ambitions, with continuous advances in sustainable business practices.”