Colgate Palmolive has shown remarkable performance
Colgate Palmolive Co. said, “Second quarter profit jumped more than analysts estimated on increased sales in Europe and Latin America and a weaker U.S. Dollar.”
In a statement the world’s largest toothpaste maker company said, “Net income rose 47 percent to $ 415.8 million, or 76 cents a share, from $283.6 million. Or 51 cents, a year earlier. Sales gained 13 percent to $3.41 billion, beating the average analyst estimate of $3.3 billion. New York-based Colgate makes Palmolive dish detergent, Ajax cleaner and Science Diet pet food.”
In Australia, the company’s sale grew 17 percent. Lower prices in France and Germany appended good returns in the company’s sales.
John Carey, a money manager in Boston said, “Many of these economies are growing faster than the U.S.,” “As standard of living rise, people want better personal care products.”
In second quarter, the sale enhances by 22% in Brazil, and 5% in Latin America.
The Colgate Co. said, “It is cooperating with U.S. and Canadian authorities and removing the counterfeit products from shelves.”
“The problems with the counterfeit toothpaste must have been quite distracting. They posted very good results, which shows their ability to concentrate on the business even with distraction,” Mr. Carey added.
The Unilever NV would combine with Colgate Co., and the Unilever NV’s shares jumped to its all-time high in last eight years on 11th July.