Colgate-Palmolive Company reported a rise in worldwide sales and unit volume growth together with higher than expected earnings growth for fourth quarter 2007.
Worldwide sales grew 13.5% to $3.6 billion and unit volume grew 5.0%, as reported. Excluding divestments, worldwide sales and unit volume grew 14.0% and 5.5%, respectively. Global pricing increased 2.0% and foreign exchange added 6.5%.
According to the company, the very strong top-line growth was supported by a 14% increase in worldwide advertising spending. Fourth quarter 2007 results include $75.8 million of after-tax charges related to the 2004 Restructuring Program.
For the full year 2007, worldwide sales as reported increased 12.5% to $13.7 billion. Net income for the full year 2007 was $1.7 billion.