UPDATE 2-Colgate sales lose sparkle in Latin America

viernes 30 de octubre de 2015 12:38 GYT
 

* 3rd qtr sales $4.0 bln vs est. $4.07 bln

* Sees full-year EPS to fall by low to mid-single digit

* Shares down as much as 3.4 pct (Adds conference call details; updates shares)

By Yashaswini Swamynathan

Oct 30 - Colgate-Palmolive Co reported a steeper-than-expected drop in quarterly sales, mainly due to a strong dollar, and the world's biggest toothpaste maker said full-year earnings would likely be lower than anticipated.

The company's shares fell as much as 3.4 percent on Friday.

Colgate has been trying to cushion the impact of the dollar's strength by raising prices, mainly in Latin America, but the move has hit both revenue and volumes in the region.

Sales in Latin America fell 11 percent in the third quarter ended Sept. 30, while volumes fell 1 percent on the back of a 12 percent hike in pricing. The region accounts for 27 percent of the company's sales.

Overall volumes rose 1 percent in the third quarter, their slowest rise in almost five years.   Continuación...