Colgate-Palmolive chief executive Noel Wallace has said that the group managed to end 2021 with a continuation of the group's "strong growth momentum", as it posted a 2.0% increase in fourth-quarter net sales.
Sales at the group stood at $4.4 billion (€3.94 billion) in the fourth quarter, up from $4.32 billion (€3.83 billion) in the corresponding period the previous year. On an organic basis, sales were up 3.0%.
Oral Care And Pet Nutrition
Wallace in particular singled out the group's oral care and pet nutrition businesses, both of which have seen an "acceleration in net and organic sales growth" over the past year.
The company's Hill's Pet Nutrition business saw net sales up 12.0% in the fourth quarter.
"We have delivered organic sales growth at or above our targeted range of 3% to 5% for three consecutive years, which gives us confidence that our investments behind our strategic priorities are delivering sustainable, profitable growth," said Wallace.
For the full year, Colgate-Palmolive saw net sales up 6.0%, while organic sales rose by 4.5%.
The Year Ahead
Looking ahead to the coming year, Colgate-Palmolive said that uncertainty remains in the marketplace, due to the lasting effects of the COVID-19 pandemic, supply chain disruption, raw material and logistics cost increases and consumer volatility.
The group recently held a series of meetings with sales representatives in India over a potential threat to supplies to smaller retail outlets.
"With costs expected to remain elevated in 2022, our funding the growth and revenue growth management initiatives, including higher pricing, will be more important than ever," said Wallace.
"We are encouraged that our investments in innovation, advertising and digital transformation are paying off and feel confident that we are well positioned to continue to deliver sustainable, profitable growth in 2022 and beyond.”