The Body Shop has reported an increase in sales and profits in its third-quarter, due to a “remarkable” performance in its UK market.
The ethical beauty retailer reported an 18.7% EBITDA surge to £11.6m, resulting in a 1.1% increase in revenue reaching £173.9m.
Natura and Co, the parent company of Aesop and The Body Shop, said that if the protests in Hong Kong is excluded, revenue for The Body Shop increased by 6.4% on a constant currency basis.
The beauty retailer also revealed that its UK like-for-likes increased by 3.1% for the quarter.
The trading update follows from Natura and Co winning shareholder approval to own beauty brand Avon, which would be starting prior to the first quarter of its 2020 financial year.
Roberto Marques, executive chairman of the board of Natura and Co, said: “Natura and Co posted a remarkable sales performance in the third quarter, exceeding market expectations, with double-digit growth in constant currency.
“All our businesses and brands again contributed to growth despite headwinds in such markets as Brazil, where Natura continued to grow market share, and Hong Kong, which impacted The Body Shop and Aesop.”
He added: “We are excited with progress made to complete the acquisition of Avon. With the recent approval by Brazil’s anti-trust authorities of Natura and Co acquisitions of Avon and the approval of the transaction today by shareholders of both companies, we are on track to complete the closing of the transaction as planned in the first quarter of 2020.”