Global Sales Rise 2% at Colgate-Palmolive

Colgate-Palmolive Company posted record operating profit and net income for the second quarter 2010, according to the company. Worldwide sales rose 2% to $3.8 billion and volume increased 3%. Net income increased 7% in second quarter 2010 to $603 million. Operating profit also jumped 7% to $948 million.

North American sales grew 4.5% in the second quarter. Operating profit for the region increased 14% during the quarter due to higher sales, higher gross profit margins and cost-savings initiatives.

In the U.S., new product launches across price points are contributing to growth in oral care including Colgate Triple Action, Colgate ProClinical and Colgate Max White with Mini Bright Strips toothpastes. Successful new products contributing to growth in the U.S. in other categories include Softsoap Nutri Serums and Softsoap Vanilla Body Butter Mega Moisture body washes, Speed Stick and Lady Speed Stick Stainguard deodorants and Ajax Lime with Bleach Alternative dish liquid.

Ian Cook, chairman, president and chief executive officer, commented, “Overall, we are very pleased to have delivered solid results this quarter, despite heightened competitive activity and difficult economic conditions around the world.

“We are delighted that Colgate’s global market shares in toothpaste and manual toothbrushes are both at record highs year to date. Colgate’s share of the global toothpaste market strengthened to 44.4% year to date, led by share gains in Brazil, China, India, Russia, Venezuela, France and the UK. Colgate also strengthened its global leadership in manual toothbrushes, with its global market share in that category reaching 31.6% year to date.”

New products planned for launch in the balance of the year include Colgate Sensitive Multi Protection toothpaste, Softsoap Nutri Serums Mineral Extracts and Softsoap Black Orchid and Velvet Hibiscus body washes, and Softsoap Sea Minerals liquid hand soap.