Church and Dwight pleased with Q1 2009 results

Church and Dwight is pleased with its solid first quarter 2009 financial results considering the current economic climate, it has stated.

Net income from the start of the year up until March 27th was $62.2 million (41.7 million pounds), whereas it was $56.2 million for the same period in 2008.

Excluding the impact of foreign exchange rates, acquisitions and divestitures, organic sales increased by approximately six per cent.

James R Craigie, chairman and chief executive officer of the company, noted the growth was largely down to strong consumer appeal for high quality, value products.

An increase in marketing expenditure, introduction of new products and pricing actions continued from 2008 also contributed towards the figures, he added.

“Our results reflect continued strong organic sales growth and exceptional gross and operating margin expansion,” said Mr Craigie.

Earlier this month, the firm’s board of directors declared a quarterly dividend of $0.09 per share.

Stockholders of record at the close of business on May 11th will be able to receive the payment on June 1st.