Colgate-Palmolive posts 7.6 pct drop in 4th-qtr sales
Jan 29 (Reuters) - Colgate-Palmolive Co, the world's largest toothpaste maker, reported a 7.6 percent fall in quarterly sales as a strong dollar once again trimmed the value of sales from outside the United States and demand weakened in Latin America.
The company reported a loss of $458 million, or 51 cents per share in the fourth quarter ended Dec. 31, compared with a profit of $628 million, or 68 cents per share, a year earlier.
The company took a $1.08 billion charge related to a change the way it accounts for its business in Venezuela.
Sales fell 12 percent in Latin America, its biggest market by revenue.
Colgate, which gets more than three-fourths of its revenue from outside the United States, said total sales fell to $3.90 billion from $4.22 billion. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Maju Samuel)
© Thomson Reuters 2016 All rights reserved.