(CercleFinance.com) – Colgate-Palmolive reported on Friday a sharp decline in quarterly profit, notably as a result of a heavy charge for depreciation.
The world leader in toothpaste announced this morning a net profit of 148 million dollars, or 18 cents per share, for the fourth quarter, against 647 million (75 cents) a year earlier.
The New York group explains that its accounts have been burdened by a charge for impairment of $ 518 million recorded on its Filorga cosmetics brand, which must indeed face the Covid-19 crisis and the difficulties encountered by the duty-free sector.
Excluding exceptional items, EPS is 79 cents, in line with consensus expectations.
Turnover increased by 2% to 4.4 billion dollars, a level again in line with analysts’ expectations.
Organic growth, which excludes acquisitions, disposals and currency effects, reached 3%.
The quarterly gross margin fell by three points, to 58.1%
For 2022, the group says it anticipates organic growth of between 3% and 5% accompanied by an improvement in its gross margin.
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