Conference Call Transcription - 2Q07


Atualizado em 2007-09-04T11:06:30
All the dates of this page are presented in official timezone of Brasilia - Brazil.

File Text

Local Conference Call

                1 NATURA Int'l

          2 2nd QUARTER 2007 RESULTS

               July 27th, 2007

                Q & A Session

Operator: Thank you.  Ladies  and  gentlemen,
we will now begin  the  Question  and  Answer
session.  If  you  have  a  question,  please
press the star (*) key, followed by  the  one
(1) key on your touch-tone phone. If  at  any
time you would like to remove  yourself  from
the questioning queue, press star two.

Our  first  question  comes   from   Margaret
Calvar of Harding Loevner. Please go ahead.

Ms. Margaret Calvar: Yes hi, good morning.  I
have two questions; the  first  concerns  the
innovation index. I believe you usually  show
a slide on that and maybe I missed it, but  I
did not see  one  in  this  presentation  and
could you discuss if you have  a  number  for
what it is or what is the direction  that  it
is going?
And then the second question  refers  to  the
overall  competitive   environment   in   the
Brazilian  market  and  whether  or  not  the
consumer is slowing in the purchases of  CF&T
products  in  general,   if   you   see   any
displacement of income  to  other  things  as
interest  rates  are  coming  down   in   the
country? Thanks.

Mr. Carlucci: Hi Margaret, good morning.

Ms. Calvar: Good morning.

Mr. Carlucci: This  is  Alessandro  speaking.
First of all you  have  the  numbers  on  the
presentation that is on the  site  about  the
innovation index, but I can  talk  about  it.
In this quarter we  had  a  decrease  in  the
total index innovation and this is an  effect
that we are probably going to  see  the  next
two,  probably  two  quarters  and   is   due
Atualizado em 2007-09-04T11:06:30
All the dates of this page are presented in official timezone of Brasilia - Brazil.