Church & Dwight Co. said second quarter profit surged 76%, driven by the acquisition of Armkel and higher prices on household items.
The company reported earnings of $34.4 million compared with $19.6 million in the prior-year period. Sales rose 30% to $441.8 million from $340.8 million a year ago, bolstered by the acquisition of Armkel, which makes Trojan condoms and First Response pregnancy kits and other personal care products.
Church & Dwight said household products sales rose 6% on strong growth for laundry detergents and pet care products, while international sales rose 7% on foreign currency gains. It also plans to raise prices for many of its laundry detergents in this year’s second half, after boosting prices for one-fifth of all domestic products, including laundry products, earlier this year.