Coty Inc. forecasts moderate revenue growth in the coming years, as it benefits from improved beauty markets in the US and China, and increased sales of tax-free items.
The company focuses more on high-end perfumes, skincare products and other categories that recovered last year, while demand for make-up products declined after the pandemic broke out, as people had to stay primarily in their homes.
“We want to outperform the beauty market from 2025 onwards,” said CEO Sue Nabi.
The company forecasts a 6% -8% increase in comparable revenue for each of the three years until 2025, with plans for further growth in the coming years.
Earlier this month, Coty forecast that comparable sales in 2022 will grow at a low to medium rate (13% -19%).
Coty also said that doubling its online business and branding will help it reach $ 1 billion in profits for the 2022 calendar year.
Analysts expect $ 987.5 million.
The company also upgraded its earnings per share estimates for the year 2022 to 20-24 cents, compared to estimates for 24 cents.
The company’s share is strengthened by 1% pre-conference.
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Source From: Capital

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