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Coty posts bigger loss due to charges related to P&G deal

May 10 Beauty products maker Coty Inc reported a bigger quarterly loss, hurt by restructuring charges related to the integration of the beauty business it acquired from Procter & Gamble Co.

Net loss attributable to Coty increased to $164.2 million, or 22 cents per share, in the third quarter ended March 31, from $26.8 million, or 8 cents per share, a year earlier.

Coty said it incurred restructuring charges of $213.5 million related to the integration of the more than 40 beauty brands it bought from P&G last year.

Excluding items, Coty earned 15 cents per share.

Revenue soared to $2.03 billion from $950.7 million, powered by the acquired P&G brands. (Reporting by Karina Dsouza in Bengaluru; Editing by Savio D'Souza)

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