Related topics: Financial
Color cosmetics maker Revlon said restructuring charges led to the company bearly breaking even in the second quarter.
Net profits slipped to just $0.2m, a figure that was largely erased by high restructuring charges. In the corresponding quarter last year the company made $19.9m.
Net sales fell by 12 percent, to reach $321.8m, a figure that reflects slowing growth in the US color cosmetics market as a whole.
A restructuring progam announced in May is expected to bring about annual savings of $30m and the company says it expects that results for the second half of the year will be boosted by around $15m.
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