Colgate-Palmolive achieves organic sales growth in Q1 2017

Colgate-Palmolive has announced its financial results for the first quarter of 2017, during which it achieved a net sales total of $3.76 billion (2.91 billion pounds).

This represented a year-on-year organic sales increase of 0.5 percent, with global unit volume decreasing two percent, pricing up by 2.5 percent and foreign exchange rates having a negative 0.5 percent impact.

Despite the modest improvement, the first quarter results fell below internal expectations due to a weak performance in North America. However, gross profit margin, operating profit margin, net income as a percentage of sales and operating cash flow all improved.

The firm's leadership position in the global toothpaste market continued, with market share now up to 43.8 percent for the year to date, while for the manual toothbrushes market this figure stood at 32.7 percent.

Colgate-Palmolive continues to expect a low-single-digit net sales increase for 2017 as a whole.

Ian Cook, chairman, president and chief executive officer of Colgate-Palmolive, said: "We continue to plan for a year of strong operating cash flow, gross margin expansion, increased advertising investment and low-single-digit earnings per share growth on a dollar basis."

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