Seven percent up first half 2004

Oriflame, a Swedish cosmetics company, reports a seven percent sales increase to EURO 7.9 million in Asia for the first half 2004 compared with the same period last year.
     Operations in Asia broke even for the period compared with a EURO 0.1 million profit first half 2003.
     Worldwide Oriflame sold for EURO 331 million the first six months 2004, up seven percent compared with first half 2003.
     Profit after tax in the period grew ten percent to EURO 40.1 million.
     In Asean, the positive sales trend in Vietnam reported in the first quarter continued during the second quarter. Indonesia sales were affected by a sharp devaluation of the local currency, according to Oriflame.
     In the rest of Asia operations in India and Sri Lanka reported double-digit increases in local currency sales during the first half-year
     An entry into China continues according to plan. A new direct sales legislation allowing direct sales is expected to be announced in September 2004. Oriflame aims to commence sales in China 2006

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