UPDATE 1-Brazil's Natura Q2 profit more than doubles, beats estimates [Reuters]
AVON PRODUCTS (AVP)
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Source: Reuters
UPDATE 1-Brazil's Natura Q2 profit more than doubles, beats estimates - Reuters 2 Min Read (Adds earnings details, share performance) By Gabriela Mello SAO PAULO, Aug 14 (Reuters) - Brazilian cosmetics group Natura SA said on Wednesday its second-quarter net profit more than doubled from a year ago, slightly above market expectations, helped by solid sales growth in all segments as well as cost cuts. In a securities filing on Wednesday, the company said its quarterly net income grew by 109.4% year-on-year to 66.6 million reais ($16.4 million) compared to a consensus estimate of 61.7 million reais compiled by Refinitiv. “All our three brands (Natura, Aesop and The Body Shop) and businesses contributed to a good performance in the quarter,” the company said, adding it hopes to conclude the acquisition of Avon Products Inc. in the beginning of 2020. Almost two years after acquiring The Body Shop brand from L’Oreal in a 1 billion-euro transaction, Natura struck in May a deal with Avon to
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