Coty posts strong Q3 growth | Progresiv
Coty Inc has reported better-than-expected growth for its fiscal third quarter, bouncing back from weak results in previous periods. For the three months to 31 March, revenue rose by 5% to 2.03 billion dollars, although they were down 2% on an organic basis. Adjusted operating profit more than doubled to 208.3 million dollars (from 102.6 million dollars), while adjusted net profit grew to 110.3 million dollars (from 47.8 million dollars). 
The Luxury business reported a 1% increase in revenue, the Consumer Beauty business was up 5%, while the Professional business boosted overall results with a 11% increase. The results were boosted by a 3% increase in North America, and a 17% surge in ALMEA, while Europe sales were flat.
Despite the results, CEO Camillo Pane warned that “fiscal 2017 is a transitional year and the path to recovery will take some time and will not be a straight line.” However, he noted that the group is making good progress in integrating the P&G Beauty brands it has acquired. (www.kamcity.com)
