Coty Inc. delivered on the highest line, but not on profit in the ultimate quarter of its 2023 fiscal yr.

The wonder company, whose brands include Kylie Cosmetics, Lancaster and CoverGirl, reported net revenue of $1.4 billion in its fourth quarter ended June 30, up 16 percent year-over-year. Analysts had been expecting around $1.3 billion.

Net income was $29.6 million, compared with a net lack of $286 million within the prior yr. Adjusted EPS of 1 cent improved from a lack of 1 cent within the prior yr, but got here in below Wall Street predictions for two cents.

The prestige segment led through the quarter, with each reported and like-for-like sales growth of 21 percent versus the prior yr. 

Consumer beauty revenue rose 9 percent as reported within the fourth quarter, with like-for-like growth of 10 percent, driven by growth across all categories.

In a call with analysts, chief executive officer Sue Nabi said Coty has done “70 percent of the job” with regards to tapping opportunities within the makeup space for its mass brands.

“The subsequent phase is to repair the face category, which I think is a category that has been driving the expansion of a few of our competitors. Hopefully once we have now the face category joining lip and eyes, 90 percent, 95 percent of CoverGirl will likely be positioned for the long run the way in which I would like this brand to be positioned, using modern marketing,” she said.

For fiscal 2024, Coty said the core business would grow at the highest of its medium term goal range of 6 to eight percent in like-for-like sales. EPS is predicted to hit a variety of between 44 cents and 47 cents, below Wall Street estimates of 48 cents.

Earlier this yr, Coty disclosed it was eyeing a dual Paris listing and Nabi told WWD it was still within the “exploratory phase.”

“The feedback and the interest from European investors has been outstanding. For numerous them, it’s a form of a refresh,” she said. “All of them heard about Coty after which Coty was not on their radar and now it’s back.”

As for press reports that Kim Kardashian is engaged in talks with Coty about buying her brand back, Nabi said she doesn’t comment on speculation. She did note, though, that the pricey direct to consumer skincare line, called Skkn by Kim, continues to perform well, while Kylie Cosmetics is growing by double digits.

Coty’s share price was down 1 percent to $10.86 in midday trading.