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Avon Reports $2.8 Billion in Q3 2011 Revenue Despite Challenges
Posted: October 27, 2011
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In Central and Eastern Europe, third-quarter revenue was up 7% year over year, or flat in constant dollars. Benefits from improving trends in active representative growth were offset by weaker average order partly due to the increasingly challenging macroeconomic backdrop in the region. Russia was up 4% on a reported basis and down 2% in constant dollars. The region's active representatives were up 1% and units sold were down 4% in the quarter.
Western Europe, the Middle East and Africa's third-quarter revenue increased 9% versus the prior-year quarter, or up 6% in constant dollars, with a significant benefit from a value-added tax (VAT) settlement in the U.K. The region's results were pressured by weak macroeconomic conditions and lower average order. U.K. revenue was up 9%, or up 5% in constant dollars, solely due to the VAT settlement, which added 14 points to growth. Turkey declined 6%, or up 7% in constant dollars. South Africa rose 29%, or 23% in constant dollars. The region's active representatives grew 3% year over year and units sold declined 1%.
Asia Pacific's third-quarter revenue was up 1% year over year, or down 7% in constant dollars. Revenue in the Philippines was up 2%, or down 4% in constant dollars. China declined 6%, or 11% in constant dollars. The region's active representatives declined 6% and units sold decreased by 9%.