Colgate-Palmolive reported record net income for its second quarter of 2009, the company announced.
Net income for the period (end-June 30) was $561.6 million, compared to $493.8 million for the same quarter a year ago. Operating profit was $887.1 million for the quarter, compared to $788.4 million in the same quarter of 2008. However, worldwide sales declined 5.5% during the second quarter to $3.7 billion, and unit volume declined 1.5%, the company reported.
"Given continued worldwide economic difficulties, we are very pleased that profitability was strong with gross profit margin, operating profit margin, and net income as a percent to sales all increasing to record levels," said Ian Cook, chairman, president, and CEO of Colgate, in a press release.
Colgate's global toothpaste leadership strengthened to 44.8% during the quarter with market share gains in many countries, including the U.S., Mexico, Brazil, China, India, and Russia, Cook added. The company also strengthened its global leadership in manual toothbrushes, with its global market share in that category reaching a record 31.1% year to date, up 0.6 share points versus a year ago.
In the U.S., new product launches are contributing to market share gains across categories, the company noted. Market share gains year to date were seen in toothpaste, manual toothbrushes, power toothbrushes, liquid hand soap, bodywashes, hand dish liquid, and liquid cleaners.
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