LONDON (ShareCast) - Spending on advertising campaigns paid off for toothpaste manufacturer Colgate as it increased its market share in the US and several worldwide markets.
Net sales in the second quarter grew 16.5% from the same period a year ago to $3.964bn, lifting operating profit to $767m from $658m.
Sales in Latin America, which accounts for 27% of revenues, grew 23.5%. North American sales, which make up 18% of turnover, grew 6.5%. The Europe/South Pacific area, which includes Australia and New Zealand and accounts for 24% of sales, saw sales rise 14.5%, while Asia and Africa sales, which account for 17% of revenue, rose by 17.5%.
"Higher advertising spending behind regular and new products worldwide drove market share gains across categories," chief executive Ian Cook said.
"Colgate's global toothpaste leadership continues to strengthen with market share gains in many countries around the world including the United States, Mexico, Brazil, China and Russia."
Source: http://uk.biz.yahoo.com/080729/214/i3zv2.html
