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Avon Products, a manufacturer and marketer of beauty and related products, posted 31.7 per cent revenue growth to R$10,419.5 million in its third quarter (Q3) FY20 ended on September 30, 2020, compared to revenue of R$7,911.3 million in same period prior year. During the reported quarter company’s net income rose to $377.7 million (Q3 FY19: $376.8 million).
Gross profit for Q3 FY20 was R$6,724.1 million (R$5,056.2 million). EBITDA rose 32.8 per cent to R$1,457.0 million (R$1,097.4 million).
“Enabled by continued digitalisation, our brands delivered strong results in the third quarter, with significant growth in sales and improved margin. In an environment that remained challenging throughout the world as a result of the Covid-19 pandemic, we outperformed the CFT market both globally and in Brazil,” Roberto Marques, executive chairman and CEO at Natura &Co, said in a press release.
Net revenue of Natura &Co Latam increased 29.5 per cent to R$6,083.6 million (R$4,697.8 million) driven by the Natura brand’s significant 41.2 per cent growth. Avon International business revenue were up 22.5 per cent to R$2,457.3 million (R$2,006.3 million) with notable progress in Western and Central Europe, and key markets such as Russia and Turkey.