Profits Rise at Colgate-Palmolive

Colgate-Palmolive Co. reported a 7.6% increase in third quarter profits, boosted by strong sales of core products such as toothpaste and dish detergent. For the quarter ended Sept. 30, the company earned $296.2 million, compared with $275.3 million in the year-ago quarter. Sales rose to $2.39 billion from $2.37 billion in the 2000 quarter.

“We are pleased that ongoing market share gains around the world contributed to a continuation of our very robust top-line volume growth,” said Reuben Mark, Colgate chairman and chief executive in a statement.

The company said U.S. sales were lifted by market share gains of Colgate Total plus Whitening and Colgate 2in1 liquid toothpastes, as well as Lady Speed Stick Invisible Dry deodorant and Palmolive Spring Blossom scent dish detergent.

Colgate also cited strong toothpaste and toothbrush sales abroad in Latin America, Europe and Asia.

For the nine months ended Sept. 30, Colgate earned $851.3 million, compared to $777.1 million, for the same period last year. Sales were $7.01 billion, up from $6.95 billion.