Colgate-Palmolive net sales decline by 1% in Q3 2012

Oral care and personal care products manufacturer Colgate-Palmolive has reported a 1% decline in global net sales to $4.33bn for the third quarter ended 30 September 2012, compared to $4.38bn for the same quarter in 2011.

The company reported a net income of $654m for the present quarter as against $643m in the corresponding period for the previous year.

Colgate’s operating profit for the third quarter decreased 1% to $1.02 bn, compared to $1.03bn in third quarter of 2011.

Colgate-Palmolive chief executive officer, chairman and president Ian Cook said the organic sales reported 5% growth, which is driven by the emerging markets with organic sales growth of 9.5%.

"Colgate’s global market shares in toothpaste and manual toothbrushes are both at record highs year to date. Colgate’s share of the global toothpaste market strengthened to 44.9% year to date, up 0.6 share points versus year ago," Cook added.

"Our global leadership in manual toothbrushes also strengthened during the quarter with Colgate’s global market share in that category reaching 32.7% year to date, up 0.8 share points versus year ago."

The firm has also announced a four-year Global Growth and Efficiency Program, which involves a 6% reduction in its global employee workforce.

Initiatives under the program will focus on the following three areas such as Expanding Commercial Hubs, Extending Shared Business Services and Streamlining Global Functions and Optimising Global Supply Chain and Facilities.

American-based Colgate-Palmolive is a consumer products company whose portfolio includes toothpaste and toothbrushes with brands such as Colgate Total Advanced, Colgate Optic White, Colgate ProClinical White, Colgate 360°, Colgate Max White, Colgate Total Professional, besides the firm also offers personal care, home care and pet nutrition products.