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Coty posts quarterly loss on higher acquisition costs
November 9, 2017 / 11:46 AM / a month ago

Coty posts quarterly loss on higher acquisition costs

Nov 9 (Reuters) - Beauty products maker Coty Inc on Thursday posted a quarterly loss on higher expenses related to the acquisition of P&G’s beauty brands and weak demand for its fragrances and color cosmetics.

Net loss attributable to the company was $19.7 million, or 3 cents per share, in the first quarter ended Sept. 30. The company broke even in the year-earlier quarter.

Net sales more than doubled to $2.24 billion, but was in line with analysts’ estimates, according to Thomson Reuters I/B/E/S. (Reporting by Gayathree Ganesan and Uday Sampath Kumar in Bengaluru; Editing by Anil D‘Silva)

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