USA: Colgate Palmolive reports 2013 sales increase, boosted by Latin American market

Colgate Palmolive reports that net sales have increased for FY2013, boosted by performance in Latin America.

Overall worldwide net sales in 2013 stood at $17.42bn, increasing by 2% on 2012, while organic sales grew by 6% and unit volume grew by 5%. Although in Europe net sales dropped by 0.5%, net sales in Asia increased by 4.5% while Africa/Eurasia rose by 0.5%.

Sales in Latin America – representing 29% of Colgate’s business – were up, with organic sales in Venezuela, Brazil, Mexico and Colombia seeing a 12.5% increase during the fourth quarter. The company gained market share in the toothpaste market while overall regional growth was aided by sales of toothpaste, toothbrush, and mouthwash products including 360° Luminous White, Total Professional Gum Health, and Plax Fresh Tea.

Sales for the fourth quarter in 2013 rose to $4,361 million, a 2% increase compared to Q4 2012. Meanwhile net income rose by 4% on the previous year totalling $697m, while there was also a rise in global unit volume which increased to 6.5% excluding foreign exchange, acquisitions and divestments.

Source: Cosmetics Business