Coty Reports Slight Net Revenue Decline In FY 2016

Coty Inc. reported net revenue declined 1 percent to $4.349 billion in fiscal year 2016, with operating income dropping 36 percent to $254.2 million from the previous year. Adjusted operating income increased 3 percent to $622.9 million, compared with the previous year. Reported net income declined 33 percent to $156.9 million, while adjusted net income rose 19 percent to $485.2 million. For the fourth quarter of FY 2016, net revenue rose 6 percent to $1.075 billion as reported, and decreased 1 percent like-for-like. Reported operating loss improved from $23.4 million in the previous year to $2.9 million in FY 2016. Adjusted operating income rose 19 percent to $94.2 million, compared with $79.2 million in the previous year.