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Coty Q1 revenue ahead of estimates

By Huw Hughes

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Business

Image: Coty, Facebook

US beauty giant Coty has topped revenue estimates in the first quarter of the year.

In the three months to September 30, net revenue came in at 1.39 billion, slightly above Wall Street estimates.

Revenue was 1 percent higher than a year ago, or 9 percent higher on a like-for-like basis.

That revenue increase was driven by like-for-like growth in the company’s Prestige and Consumer Beauty categories.

Coty’s net income widened to 125.3 million dollars in the quarter from 103 million dollars a year earlier.

The company also reaffirmed its full-year revenue and profit outlook.

It expects like-for-like revenue, adjusted for the impact of its exit from the Russian market, to increase by between 6 percent and 8 percent.

It expects adjusted EBITDA of between 955 million dollars and 965 million dollars based on current FX rates.

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