February 9, 2017 / 5:23 PM / 8 months ago

BRIEF-Coty reports qtrly adj EPS of $0.30

Feb 9 (Reuters) - Coty Inc :

* Coty Inc reports second quarter fiscal 2017 results, the first quarter after successful completion of the merger with P&G Beauty Business

* Coty’s partly-owned company Younique expects to generate about $400 million in net revenues in 2016

* Qtrly eps (diluted) adjusted $0.30

* Qtrly net revenues of $2,296.7 million increased 90% as reported compared to legacy-coty net revenues in prior-year period

* “Believe combined company net revenue decline in constant currency will slow down for H2 fiscal 2017, excluding Younique and ghd”

* Qtrly earnings per share $0.06

* On P&G Beauty Business merger, we are reiterating our previously communicated $750 million synergy target by fiscal 2020

* Expects combined company net revenue decline in constant currency to slow down for second half of fiscal 2017, excluding Younique and ghd

* Qtrly net revenues $2,296.7 million versus $1,210.5 million

* Q2 earnings per share view $0.33, revenue view $2.36 billion -- Thomson Reuters I/B/E/S

* “We have identified non-core portfolio of brands and are now exploring potential alternatives for these brands including divestitures.”

* Says now expects to cumulatively generate approximately 20% of net $750m synergies through FY17 Source text for Eikon: Further company coverage:

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