Colgate-Palmolive's profit drops 11% in 2nd Qtr

NEW YORK (AE)-Colgate-Palmolive announced this Thursday, 25, who had a net income of $ 561 million ($ 0.60 per share) in the second quarter, a fall of 11% in comparison with the profit from the same period last year, to $ 627 million (US $ 0,65 per share). Adjusted profit rose to $ 0.70 per share, from $ 0.67 per share. Revenue increased 1.9% to $ 4.35 billion.
Heard by the Thomson Reuters analysts expected adjusted profit of $ 0.70 per share and revenue of $ 4.39 billion. Gross margin rose to 58.3%, 57.7%. Around 12:32 (Eastern) Colgate's shares rose 0.24 percent on the New York Stock Exchange. The second-quarter result was impacted by restructuring costs, despite the improvement in sales. Source: Dow Jones Newswires.