Coty Sees Weaker Revenue Performance In 3Q Of FY 2016

Coty Inc. reported net revenue declined 1 percent like-for-like to $950.7 million and increased 2 percent as reported for the third quarter of fiscal year 2016. Adjusted operating income decreased 19 percent to $81.7 million from $100.9 million in the previous year. Adjusted net income declined from $63.6 million in the previous year to $31.5 million in the third quarter of 2016. Also, the company said net cash provided by operating activities rose to $71.8 million, compared with $33.2 million in the same period in the previous year.