Coty, owner of Max Factor and Rimmel, returns to profit in its fiscal year, with 61 million

Aug. 25 () –

The fashion company Coty, owner of beauty brands such as Rimmel or Max Factor, closed its fiscal year, which ended in June, with an attributed net profit of 61.2 million dollars (61.2 million euros), compared to net losses of 303.6 million (303.7 million euros) from the previous year, as reported by the company on Thursday.

According to the published income statement, Coty’s annual turnover reached 5,304.4 million dollars (5,305.7 million euros), 15% more. By business segments, the luxury products division entered 3,267.9 million (3,268.7 million euros), 20% more, while the branch of general products advanced 7%, to 2,036.5 million dollars ( 2,037 million euros).

Costs associated with sales were 1,935.2 million (1,935.7 million euros), 4% more, while selling, general and administrative expenses were 2,881.3 million (2,882 million euros), a 21.9% more.

Only in the fourth quarter of the fiscal year, Coty increased its net losses by 35.5%, to 284.8 million (284.9 million euros), while revenues stood at 1,168.3 million (1,168.6 million euros), 10% more.