Coty’s UK & Ireland branch reported a pre-tax deficit of £53.4 million for the fiscal year concluding on June 30, 2024. This is a sharp decline from the previous year’s pre-tax gain of £9.9 million. Revenue for the latest financial period reached £335.3 million, rising from £323.1 million in the previous year. City AM revealed that the figures emerged from newly submitted records to Companies House, the official register for UK businesses. The firm, which produces Rimmel London, explained that the loss is due to an ‘internal reorganisation of legal entities’. A statement from the board of the American beauty conglomerate notes that the UK’s beauty market has experienced significant value growth in the year, maintaining Coty’s sales as positive and robust.
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