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1/29/2021, 12:57 PM (Source: TeleTrader)
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Colgate-Palmolive Q4 net sales at $4.32B, up 7.5%

Colgate-Palmolive Company announced on Friday that its net sales stood at $4.32 billion in the fourth fiscal quarter of 2020, increasing 7.5% compared to the same time span a year ago.

The company's diluted earnings per share (EPS) stood flat year-on-year to $0.75 while organic sales increased by 8.5% for the fourth three month period. Operating profit amounted to $969 million in the quarter ending with December 31, 2020, rising by 4% from the corresponding quarter the year prior.

"Our strong gross profit performance in the quarter funded a significant increase in advertising while still allowing us to deliver increases in operating profit, net income and earnings per share on a base business basis. The increased investment was widespread across categories and geographies in support of new product launches, expanded eCommerce activity and strengthened digital engagement," Chairman, President and CEO Noel Wallace noted in a statement.

Following the release of the report, the company shares fell 0.82% in premarket trade.

Baha Breaking News (BBN) / TF