04.02.18
Coty Inc. reported second quarter fiscal 2018 results. Net revenues rose 14.8% to $2.6 billion. The firm’s 10.3% constant currency net revenue growth reflected a 7.5% contribution from Younique, Burberry and two months of ghd, and a 2.8% increase in the underlying business, driven by strong growth in luxury and sustained momentum in professional beauty which was partially offset by a modest decline in consumer beauty.
For the first six months of fiscal 2018, net revenues increased $4.9 billion. Commenting on Coty’s performance, Camillo Pane, CEO said: “Q2 was a very strong quarter marked by Coty’s return to organic top line growth. We delivered excellent growth in luxury, an acceleration in positive momentum in professional beauty and a significant improvement in consumer beauty. Our recent acquisitions continue to have strong performance. Across each of our three businesses we continue to see improving results with our strong performance in Q2 directly linked to our growth strategy. Recent innovations are working well, e-commerce is performing ahead of the market and we are working to implement better in-store execution.
Pane said fiscal 2018 continues to be a year of “stabilization and this is what our results have shown so far.” While noting that he was pleased with the company’s performance, Pane said, “there is still much work to be done before we achieve the consistency that we seek as we still need to relaunch many brands, deliver our synergies and continue with our integration of the P&G Beauty business.”
For the first six months of fiscal 2018, net revenues increased $4.9 billion. Commenting on Coty’s performance, Camillo Pane, CEO said: “Q2 was a very strong quarter marked by Coty’s return to organic top line growth. We delivered excellent growth in luxury, an acceleration in positive momentum in professional beauty and a significant improvement in consumer beauty. Our recent acquisitions continue to have strong performance. Across each of our three businesses we continue to see improving results with our strong performance in Q2 directly linked to our growth strategy. Recent innovations are working well, e-commerce is performing ahead of the market and we are working to implement better in-store execution.
Pane said fiscal 2018 continues to be a year of “stabilization and this is what our results have shown so far.” While noting that he was pleased with the company’s performance, Pane said, “there is still much work to be done before we achieve the consistency that we seek as we still need to relaunch many brands, deliver our synergies and continue with our integration of the P&G Beauty business.”