THE WHAT? Oriflame has reported its results the third quarter of fiscal 2024. The Swedish direct sales brand said sales dropped 19 percent year-on-year to €130.8 million. Adjusted net profit stood at €6.9 million.

THE DETAILS In the nine months to 30 September 2024, Euro sales declined 21 percent to €435.5 million and local currency sales decreased by 17 percent.

THE WHY? Oriflame attributed its ‘challenging’ quarter to the uncertain macroeconomic and geopolitical situation as well as adverse foreign exchange movements in several markets.