Colgate-Palmolive posts 7.6 pct drop in 4th-qtr sales

viernes 29 de enero de 2016 08:02 GYT
 

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)