Thursday, May 11, 2017

Coty had a loss in the first three months of the year

The French Coty had net loss of $ $164,200,000 from January to March 2017, a period corresponding to the company''s fiscal third quarter. A year earlier, the losses had added $ $26,800,000. The rise of prejudice can be explained by the retraction of the operating profit and higher restructuring expenses.
The adjusted profit add up to $ $110,300,000 in the third fiscal quarter, compared with $ $47,800,000 in the same period in 2016. Already the net revenue reached $ $2.03 billion in the three months to March, more than double a year earlier. In constant currency, there was an improvement of 5%, in comparison with the sum of the Coty beauty operation purchased from P&G a year earlier. Without the positive contribution of acquisitions, including in Brazil-where the French bought the beauty area Hypermarcas, owner of brands such as Risqué and Bozzano –, sales would have retreated 2% in constant currency.
Supermercado Moderno - 10/05/2017
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