Colgate declares strong first quarter results

Colgate has experienced three months of “excellent” global sales and growth, it has announced.

Publishing its first quarter results, the dental health supplier stated that its worldwide sales grew by 15.5 per cent to $3,713 million (£1,879 million).

Ian Cook, president and chief executive officer of Colgate, said he was pleased the organisation had begun 2008 so strongly and is continuing the growth experienced during 2007.

However, he acknowledged that “unprecedented” increases in costs had hit both Colgate and its competitors.

“Despite this unprecedented jump, the company’s aggressive savings programmes, higher pricing and shift toward higher-margin oral care products virtually offset the impact of sharply rising raw and packaging material costs worldwide,” Mr Cook added.

He predicted that the company is likely to continue experiencing strong top-line growth and an ongoing sales momentum.

Colgate is a $13.8 billion firm which provides health products to more than 200 countries.