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July 12, 2001
By: TOM BRANNA
Editor
Colgate-Palmolive Co. said today it expects to report a rise in second-quarter and full-year operating profits in Latin America, which accounts for about one-fourth of its sales, despite currency problems in the region.“Our operating profits in Latin America were up in the first quarter of 2001, and we expect them to be up in the second quarter and full year as well,” said Reuben Mark, the company’s chairman and chief executive officer.The maker of Colgate toothpaste, Irish Spring soap and Hill’s Science Diet pet food posted operating profits in Latin America of $244.1 million for second quarter 2000 and $603.1 million for the full year. Colgate shares have fallen in recent days amid concern that currency problems and economic woes in Argentina would spread through the region.
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