Church & Dwight’s Third Quarter Profit Up 11% on Solid Laundry Sales

Church & Dwight announced third quarter profit grew 11%, helped in part by solid sales growth at its biggest division, laundry products. The company reported net income of $19.5 million, compared to $17.6 million a year earlier. Sales edged up to $265.6 million from $263.8 from last year. Improvements in the company’s laundry products narrowly offset weaker sales of deodorizers and cleaners and personal care products.

Laundry product sales rose 4.5% to $105.6 million, as sales for personal care products, such as toothpaste and antiperspirants, fell 9.5% to $41.7 million amid competition and lower promotional spending. Sales for deodorizers and cleaners slipped 2.2% to $61.3 million.

Armkel, a 50-50 joint venture between Church & Dwight and private equity group Kelso & Co., saw its net income decline 3.2% to $9 million. Sales rose 2.4% to $ 103.4 million. Armkel’s products include Nair depilatories, First Response pregnancy tests and Trojan condoms.

Last month, Church & Dwight completed its acquisition of Unilever’s U.S. and Canadian oral-care brands for $104 million, plus additional performance-based cash payments of between $5 million and $12 million to be made at a later date. The businesses include Mentadent toothpaste and toothbrushes, the Pepsodent and Aim toothpaste brands, and the exclusive licensing rights to Close-Up toothpaste.