Revlon reports favourable third quarter results
Net sales have increased by 4.8%
Revlon has reported favourable third quarter results, showing that excluding unfavourable currency fluctuations of $6.4m, third quarter net sales have increased by 4.8%. Net sales of $347.0m compared to $337.2m, an increase of 2.9%
Commenting on the announcement, Revlon president and ceo, Alan T Ennis said: “In the third quarter we continued to execute our strategy of profitably growing our business as we grew net sales by 4.8%, maintained competitive operating income margins and improved free cash flow. We continue to bring highly innovative, consumer preferred new products to the marketplace.
“In the quarter we also announced actions to drive operating efficiencies which once fully implemented are expected to generate annualised cost reductions of approximately $10m. These actions are further enabling us to invest in the execution of strategy while maintaining highly competitive margins.”