Colgate-Palmolive maintains momentum in first quarter of 2014

Colgate-Palmolive has published its financial results for the first quarter of 2014, during which it generated a worldwide net sales total of $4.33 billion (2.58 billion pounds).

This was broadly even with Q1 2013, with an underlying organic sales growth of 6.5 percent being counterbalanced by negative foreign exchange rate trends. Global unit volume rose by five percent, with pricing increasing by 1.5 percent.

Its leading global market shares in toothpaste and manual toothbrushes remain strong at 44.3 percent and 33.1 percent respectively, while its mouthwash market share reached a record high of 17.3 percent during the quarter.

For the full year, the company expects its diluted earnings per share for the year to grow by between four and five percent on a dollar basis and at a double-digit rate on a currency neutral basis.

Ian Cook, chairman, president and chief executive officer of Colgate-Palmolive, said: "We are very pleased to have started the year with strong organic sales growth, building on the momentum we saw in 2013."

This comes after the firm achieved a net sales total of $17.41 billion during 2013, representing a two percent improvement on its 2012 performance.