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Home Industry News Colgate-Palmolive maintains organic growth in Q2 2016

Colgate-Palmolive maintains organic growth in Q2 2016

5th August 2016

Colgate-Palmolive has continued to deliver organic year-on-year growth in the second quarter of 2016, despite difficult trading conditions caused by economic uncertainty.

The company's net sales for the quarter came to $3.85 billion (2.95 billion pounds), which represented a year-on-year decline of 5.5 percent in nominal terms, with negative foreign exchange trends having a significant impact.

When factoring out the effect of foreign exchange, acquisitions, divestments and the deconsolidation of the company's Venezuelan operations, Colgate's business grew by 4.5 percent in organic sales terms during Q2, with every operating division contributing.

Its gross profit margin, operating profit margin and net income as a percentage of sales all increased compared to Q2 2015, while the firm's share of both the toothpaste and toothbrush markets increased.

For the full year, the business expects a low to mid-single-digit net sales decline for 2016, due to continued currency headwinds.

Ian Cook, chairman, president and chief executive officer at Colgate-Palmolive, said: "We continue to anticipate another year of solid organic sales growth in 2016, driven by a full new product pipeline across all categories and geographies."ADNFCR-8000103-ID-801823219-ADNFCR

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