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Coty profit beats on demand for ghd, Younique brands

(Reuters) - Beauty products maker Coty Inc (COTY.N) on Thursday reported a better-than-expected quarterly profit, gaining from strong demand for higher margin brands such as Younique and ghd.

Total sales in its consumer beauty business, which is its biggest by revenue, rose 2 percent on a constant currency basis.

In the past year, Coty has bought more than 40 brands from Procter & Gamble Co (PG.N) as well as the personal care and beauty business of Brazil’s Hypermarcas SA (HYPE3.SA) to boost its consumer beauty business.

The company posted net loss of $19.7 million, or 3 cents per share, in the first quarter ended Sept. 30, compared with a break even in the year-earlier quarter, due to higher expenses related to the P&G deal.

Excluding items, it earned 10 cents per share, compared to analysts’ estimates of a profit of 7 cents per share.

Net sales more than doubled to $2.24 billion, but was in line with analysts’ estimates, according to Thomson Reuters I/B/E/S.