Colgate-Palmolive's 2Q profit climbs 7 percent

[July 29, 2010]  NEW YORK (AP) -- Colgate-Palmolive Co. says its second-quarter net income rose more than 7 percent as it kept selling more of its Palmolive dish soap, Ajax cleanser and Colgate toothpaste.

The world's largest toothpaste maker has maintained sales of its name-brand products even as shoppers traded down in the weak economy. It is also expanding in developing markets including South America and boosting advertising to keep people spending.

The company earned $603 million, or $1.17 per share, in the three months ending in late June. That's up from $562 million, or $1.07 per share, in the same quarter last year.

Revenue rose almost 2 percent to $3.81 billion.

Analysts expected the company to earn $1.16 per share on revenue of $3.94 billion.

[Associated Press]

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