Today’s news / Toothpaste giant sells more brushes, boosts profit
In one year, Colgate-Palmolive has managed to advance in both the market for non-electric toothbrushes and the toothpaste market. (Archive photo). Photo: Marvin Gentry/Reuters

Toothpaste giant sells more brushes, boosts profit

Colgate-Palmolive, which produces one in every three toothpastes sold worldwide, reported a second-quarter operating profit of $1.1 billion, which marks an increase of $118 million from the previous year. Their market share for non-electric toothbrushes grew by 1.8 percentage points to 32.2%, and they now command 41.5% of the toothpaste market after gaining a percentage point. Revenue rose to $5.1 billion, up from $4.8 billion last year, surpassing analyst expectations of $5.0 billion. The company attributes the revenue growth to increased unit sales and higher product prices. Colgate-Palmolive has also raised its organic growth forecast from 5-7% to 6-8%. CEO Noel Wallace expressed confidence that the company’s strategies are aligning with its goals for enhancing organic growth by 2024. Organic growth excludes the impact of currency fluctuations and acquisitions, providing a clearer picture of a company’s real growth.