Norbolsa | On Friday the company reported results below expectations for the first half of the year, with sales 2% below expectations, net profit falling 26% and an operating margin of 14.4% vs. 15.3% previously.
The company justified this, among other reasons, by higher IPO costs and higher employee bonuses. It is worth highlighting the poor performance of its make-up division, affected by the Asian markets.
The company maintains its guidance for the year. It expects both sales and operating profits to improve in the second half of the year due to holiday demand. The stock fell 13% on Friday.
