09 February 2004 00:00 [Source: ICB Americas]Colgate 4Q Earnings Sparkle
Colgate-Palmolive Company announced double-digit earnings-per-share growth for the quarter ended December 31. Global operating profit, gross profit and net profit margins all reached record highs for both the fourth quarter and full year 2003. Fourth quarter global sales rose 6.5 percent from both unit volume and favorable foreign exchange, while operating profit climbed 8 percent. Gross profit margins increased 20 basis points to 54.8 percent, and net income increased 9 percent to a record $372.1 million.
P&G Licenses Wella
Procter & Gamble (P&G) Company's subsidiary P&G International Operations has agreed to license the retail hair brands of Wella AG on a five-year country-to-country basis contract. P&G will market and sell the Wella retail hair care brands and pay a licensing fee to Wella AG.
IFF Sales Increase
International Flavors and Fragrances Inc. reported fourth quarter 2003 sales of $471.8 million, an increase of 11 percent compared to the year-ago period. Sales were strongest in North America, Latin America, Asia Pacific and, to a lesser extent, in India. The company benefited from the strengthening of various currencies in relation to the dollar.
New LAB plant in Syria
UJS, a Syrian company controlled by Daaboul Group and 25 percent owned by Al Raji Group of Saudi Arabia, has started up its 30,000 ton-per-year linear alkylbenzene (LAB) plant in Damascus. Constructed at a cost of $50 million, and the plant is the first large petrochemicals project implemented in Syria by private investors.
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