Colgate-Palmolive posts net sales decline in first quarter | Progresiv
Personal care giant Colgate-Palmolive has posted a 3.0% decline in net sales in the first quarter of its financial year, to 3.48 billion euros. 
The group saw global unit volume rise by 1.0% and pricing rise by 2.0% in the period, however foreign exchange rates has a negative 6.0% impact.
Organic net sales, excluding foreign exchange, acquisitions and divestments, was up 3.0%, the group said.
Operating profit stood at 879 million dollars for the period, compared to 983 million dollars in the first quarter of last year, as the group implemented elements of its Global Growth and Efficiency Programme.
“We are pleased with the improvement in organic sales growth this quarter and that the growth was broad based, with emerging markets and developed markets each growing 3.0%,” said Noel Wallace, the group’s chief executive
“We believe our plans to accelerate growth are beginning to pay off, as the stronger organic sales growth we delivered in the quarter had a better balance between pricing and volume growth than we saw in the fourth quarter of 2018. This growth was led by our toothpaste and Hill's businesses.”
Colgate currently holds 41.7% of the global toothpaste market. (www.esmmagazine.com)
