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HYPMY Hypera Sa (PK)

5.884
0.244 (4.33%)
24 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Hypera Sa (PK) USOTC:HYPMY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.244 4.33% 5.884 5.54 6.05 6.02 5.60 5.60 8,500 21:10:12

Coty Swings to a Loss Amid Acquisition Costs

03/05/2016 2:40pm

Dow Jones News


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Coty Inc. swung to a loss in its latest quarter as the beauty-products maker continues to book charges associated with recent acquisitions.

The company in September announced plans to fold in Procter & Gamble's beauty portfolio for $13 billion, adding about 40 brands including CoverGirl makeup and Clairol hair dyes.

Coty on Tuesday said it expects the transaction to close in October, and that it expects incurring $1.2 billion of one-off costs over the next four years related to integrating the businesses and closing the deal.

Meanwhile, Coty in February closed a deal to buy the personal care and beauty business of Hypermarcas SA for about $1 billion, expanding its footprint in Brazil. That business contributed $14.3 million in sales during the March quarter, but it posted an operating loss of $6.6 million due to integration charges.

For the period, Coty reported a total of $37 million in acquisition-related costs. Such charges offset the impact of slightly higher revenue, resulting in a loss of $26.8 million, or 8 cents a share. That is down from a profit of $75.5 million, or 21 cents a share, a year earlier.

Excluding merger-related costs, among other items, per-share profit fell to 9 cents from 18 cents.

Revenue edged up 1.8% to $950.7 million. Analysts expected 12 cents in adjusted earnings per share and $970.7 million in sales, according to Thomson Reuters.

The revenue increase was thanks to a 11% rise in color cosmetic sales. Fragrance and skin care sales declined 4% and 12%, respectively, from a year earlier.

Shares in the company, up 21% since the start of the year, were inactive during premarket trading.

Write to Lisa Beilfuss at lisa.beilfuss@wsj.com

 

(END) Dow Jones Newswires

May 03, 2016 09:25 ET (13:25 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

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