10.27.11
Colgate-Palmolive Company reported worldwide net sales increased 11% to $4.4 billion in third quarter 2011. Operating profit increased 8% to $1.0 billion, while net income rose 4% to $643 million.
Global unit volume grew 4.5%, pricing increased 2.0% and foreign exchange was positive 4.5%. According to the company, the Sanex acquisition contributed 2.0% to sales and volume growth.
As previously announced, consistent with the company’s focused business strategy, it sold its laundry detergent brands in Colombia during third quarter 2011, resulting in an aftertax gain of $135 million. This gain was offset by $128 million of aftertax charges resulting from the implementation of various business realignment and other cost-saving initiatives.
Ian Cook, chairman, president and chief executive officer, commented on the results. He said, “We are pleased with our strong top and bottom line growth this quarter with worldwide net sales, operating profit, net income and diluted earnings per share all increasing versus year ago, despite very sharp increases in material costs, an intense competitive environment and challenging macroeconomic conditions worldwide.”
According to Cook, Colgate’s global market shares in toothpaste and manual toothbrushes are both at record highs year to date.
“As we look ahead to 2012, while our global budget process is still in its initial stages and macroeconomic and foreign exchange volatility remain a challenge, we are planning to improve our worldwide market shares and volume growth with advertising support behind many new and existing Colgate products. Consistent with our long-term strategy, our goal is to return to double-digit earnings per share growth in 2012,” he said.
Global unit volume grew 4.5%, pricing increased 2.0% and foreign exchange was positive 4.5%. According to the company, the Sanex acquisition contributed 2.0% to sales and volume growth.
As previously announced, consistent with the company’s focused business strategy, it sold its laundry detergent brands in Colombia during third quarter 2011, resulting in an aftertax gain of $135 million. This gain was offset by $128 million of aftertax charges resulting from the implementation of various business realignment and other cost-saving initiatives.
Ian Cook, chairman, president and chief executive officer, commented on the results. He said, “We are pleased with our strong top and bottom line growth this quarter with worldwide net sales, operating profit, net income and diluted earnings per share all increasing versus year ago, despite very sharp increases in material costs, an intense competitive environment and challenging macroeconomic conditions worldwide.”
According to Cook, Colgate’s global market shares in toothpaste and manual toothbrushes are both at record highs year to date.
“As we look ahead to 2012, while our global budget process is still in its initial stages and macroeconomic and foreign exchange volatility remain a challenge, we are planning to improve our worldwide market shares and volume growth with advertising support behind many new and existing Colgate products. Consistent with our long-term strategy, our goal is to return to double-digit earnings per share growth in 2012,” he said.