Coty has posted net revenues of $4.649.1bn for the full year of 2013 – a 2% increase on the previous year. According to the company, growth was driven by solid increases in the company's Colour Cosmetics and Fragrances segments, with strong performances across its brands Rimmel, Marc Jacobs, Chloe, and Playboy.
Geographically, growth was led by Asia Pacific with 5% growth while EMEA climbed 1% higher than the previous year despite continued economic weakness in Southern Europe.
Commenting on the results, Michele Scannavini, CEO of Coty, said: "Coty delivered another year of positive financial performance. Our increase in netrevenues was driven by growth in our Fragrances and Colour Cosmetics segments as well as positive developments across all regions, particularly the emerging markets. Operating and net income grew faster than revenues, contributing to margin expansion and demonstrating our ongoing focus on operational efficiency”.
Looking ahead, Scannavini said the company's growth is to continue: “We remain committed to our long term strategy to grow revenues in line or faster than the markets and segments where we compete, and to grow earnings faster than sales, driving continuous margin expansion".