“European investors need to buy Coty stock. It’s so simple as this,” said Coty Inc. chief executive officer Sue Y. Nabi of why the corporate is mulling a dual listing, because it released its latest set of earnings that beat Wall Street expectations.

The sweetness company, which is listed on the Recent York Stock Exchange, issued an announcement Friday saying it was eyeing a dual Paris listing. It also revealed that it has prolonged its long-term partnership with Nabi, Coty CEO since Sept. 1, 2020.

“That is the proper moment to accomplish that. Eleven quarters in line or ahead of expectation is moment to begin this,” continued Nabi, although she didn’t disclose any details on the timeframe. “I’d say that on the Paris Stock Exchange half of the market cap is made with beauty and luxury firms, and we’re a beauty and luxury company.”

The third-quarter results will definitely help it on its mission. For the three months ended March 31, Coty’s net revenues got here in at $1.29 billion, up 9 percent year-over-year and beating analyst forecasts for $1.23 billion.

Inside that, prestige revenues grew 10 percent, buoyed by prestige fragrances corresponding to Burberry Hero and Her, Gucci Flora Gorgeous Jasmine and Gorgeous Gardenia because the so-called fragrance effect remained in play, while Coty also began rolling out its comprehensive skincare strategy.

Last 12 months, the corporate released latest targets to double its skincare sales, reaching between $500 million and $600 million by fiscal 2025, with much more gains to are available in 2026. As a part of this, the Lancaster brand revamped and relaunched its most premium skincare collection on March 17.

As for consumer beauty revenues, they grew by 6 percent, with brands including CoverGirl, Max Factor, Rimmel and Monange having fun with double-digit sales growth. In addition to prestige, the patron beauty division is benefiting from the fragrance effect that has boosted the corporate for the past few quarters, Coty said. At the identical time, it’s seeing a pickup in color cosmetics, specifically within the U.S.

On a geographical basis, sales in Europe, the Middle East and Africa increased 7 percent; within the Americas by 13 percent, and Asia-Pacific 4 percent, with the corporate pointing to strength in broader Asia and travel retail, and gradual improvement in China trends.

Nabi told WWD she is seeing continuing improvement in China in the present quarter.

“It’s a lot better than Q3. As you possibly can imagine, Q3 revenue was for half of it mainly under lockdown, roughly, the opposite hand was just reopening.…But step-by-step what we’re seeing is clearly an acceleration at the least in previous figures through the month that ended a number of days ago. So we consider that this improvement will proceed in the approaching months,” she said.

Specifically, it highlighted Lancaster skincare and latest foundations from Burberry and Gucci as performing well.

China makes up just 4 percent of Coty’s net revenues, meaning it has much less exposure than rival the Estée Lauder Cos., which last week slashed its full-year outlook on the back of a slower-than-expected recovery in travel retail in Asia.

“The strength for Coty is that we’re ranging from a low base,” said chief financial officer Laurent Mercier during a call with analysts. “There is no such thing as a retailer inventory. So this is absolutely purely incremental.”

Coty’s net income was $105.1 million, up from $49.6 million within the prior 12 months, attributable to the profit from a mark-to-market on the equity swap, partially offset by the next profit within the prior 12 months from a change in Wella’s fair value and lower operating income.

Adjusted earnings per share was 19 cents, up from 3 adjusted EPS within the prior 12 months. Analysts were expecting 3 cents.

Coty now expects full-year revenues for the core business, adjusting for the impact of the Russia exit, to grow between 9 and 10 percent on a like-for-like basis, up from the unique outlook for six to eight percent growth, at the same time as it expects to implement one other round of price hikes. It’s expecting adjusted EPS of between 52 cents and 53 cents.

Nevertheless, Coty’s stock closed down 3.2 percent at $11.72.