Colgate-Palmolive’s Fourth Quarter Net Rises 15%

Colgate-Palmolive Co., New York, NY, said fourth quarter profit rose 15% on strong sales growth and improved profit margins, and the consumer products company predicted another good year in 2003. The maker of Colgate toothpaste, Palmolive soap and other household products reported net income of $340.9 million, compared with $295.3 million a year earlier.

Sales rose 3.9% to $2.42 billion from $2.33 billion. Colgate said that was its best sales growth in dollar terms in more than five years. Worldwide unit volume rose 6%, with strong gains in every operating division, according to executives.

“Top-line growth momentum and increased profitability provide an excellent foundation for another good year in 2003,” chairman and chief executive Reuben Mark said in a statement. Colgate accelerated its introduction of new products around the world in 2002, and the company has a full pipeline of new products for 2003 and 2004, Mr. Mark said.

Colgate said it increased global market share during the year in key categories including toothpaste, liquid hand soap, body wash, fabric softeners and pet nutrition products. Among the new products strengthening Colgate’s market share are Colgate Total Plus Whitening and Colgate Herbal White toothpastes, Palmolive Aromatherapy body wash and Science Diet oral care for dogs and cats.

For the full year, net income rose 12% to $1.29 billion from $1.15 billion in 2001. Sales increased 2.3% to $9.29 billion.