16 de agosto de 2016 / 12:02 / en un año

UPDATE 4-Perfume maker Coty posts loss as integration costs pinch

* Q4 net loss $31 mln vs. net income of $21 mln last year

* Acquisition costs more than double

* Shares fall about 8.6 pct; recovers to close down 4.9 pct

* Coty on track to close P&G beauty brands deal in October (Updates share price)

Aug 16 (Reuters) - Beauty products maker Coty Inc reported its second straight quarterly loss, hurt by a jump in costs to integrate beauty brands acquired from Procter & Gamble and a slowdown in sales of some core brands.

Coty, on track to close its $13 billion acquisition of P&G’s beauty portfolio in October, said acquisition costs more than doubled to $90.2 million in the fourth quarter, from a year earlier.

These costs also included expenses related to the acquisition of the beauty care unit of Brazilian consumer goods company Hypermarcas SA last year.

Excluding these costs, however, the company earned 13 cents per share in the quarter ended June 30.

Total net revenue rose 5.5 percent to $1.08 billion, its biggest rise in quarterly sales since going public in 2013.

The company’s sales were boosted by acquisitions and a rebound in demand for its perfumes including licensed brands such as Marc Jacobs and Calvin Klein.

Sales in the company’s perfume business rose nearly 2 percent to $422.2 million, their first rise in two years, as demand picked up in the Americas and Asia Pacific. The business accounted for nearly half of its total sales.

Like-for-like sales, which exclude acquisition-related gains and foreign exchange fluctuations, fell 1 percent in the quarter, hurt by weak demand for core brands including Playboy and philosophy’s skin and body care products.

The net loss attributable to Coty was $31 million, or 9 cents per share, in the fourth quarter. The company posted a profit of $21 million, or 5 cents per share, a year earlier, helped by a one-time tax benefit.

Analysts on average had expected a profit of 6 cents per share and revenue of $1.05 billion, according to Thomson Reuters I/B/E/S.

The New York City-based company’s shares closed down 4.9 percent at $28.28 on Tuesday. They had dropped as much as 8.6 percent earlier in the session. (Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Anil D‘Silva and Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below