Coty''s profit advances in Q4

The Coty recorded adjusted net income of $223,300,000 between October and December 2016, a period that corresponds to the company''s fiscal second quarter, an increase of 45%.
The comparison was adjusted to include in the last quarter of 2015, used as a basis for comparison, the performance of beauty brands acquired from Procter & Gamble.
Still in adjusted basis, net sales decreased 7% to $2.3 billion. In constant currency, the recoil would be 4%.
Without the positive effect of the acquisition of equipment to British Good Hair Day hair (ghd) and beauty Division Hypermarcas in Brazil, and not to mention the short-term negative impact of increased stocks in the three previous months in the business part of the P&G, the combined net revenue dropped a digit in constant exchange.
The Executive President Camillo Pane considered the second fiscal quarter as challenging. "The business was affected by inventory levels significantly higher than expected in beauty brands acquired from P&G, by competitive pressure in the consumer division and merger integration efforts."
The fiscal year 2017 is seen as a transitional period. "We believe that the fall of net revenues, the combined company, in constant currency will ease in the second half of the fiscal year 2017," he said.