Church and Dwight sees further momentum in Q1 2016

Church and Dwight has announced its financial results for the first quarter of 2016, during which it delivered a reported net sales total of $849 million (587.33 million pounds).

This represented a 5.2 percent year-over-year organic growth rate, while its reported earnings per share rose to $0.86, a 7.5% increase over the prior-year first quarter. This exceeded the company's prior outlook.

The launch of several new product lines helped to drive this growth, including a new beauty line of adult vitamins under the Vitafusion brand, a new Groove condom and Riviera lubricant under the Trojan brand, and Pregnancy Pro, the only pregnancy test kit with Bluetooth technology.

Additionally, Church and Dwight increased its marketing spend during the first quarter, helping six of its ten powerbrands gained market share.

The firm now expects organic sales growth of approximately three to four percent for the full year, up from three percent previously, while its gross margin is now forecast to expand by approximately 75 basis points.

Matthew Farrell, chief executive officer of Church and Dwight, said: "We are extremely pleased with the sales and earnings growth as our strong momentum in late 2015 has continued into early 2016."