The pet segment contributed 22% of sales to Colgate-Palmolive’s business.
Hill’s revenue in the second quarter of 2023 reached just over $1 billion (€914.8M) compared to $909 million (€831.6M) in the same period of 2022.
Colgate’s pet segment contributed 22% of sales to its business during Q2. This percentage remains the same as last quarter.
The US and European markets led the organic growth, while sales in Australia went down.
Operating profit for Hill’s went from $212 million (€193.9M) last year to $191 million (€174.7M) in 2023. According to the multinational, this was due to higher raw packaging material costs and an unfavorable mix “due to private label sales resulting from acquisitions and increased advertising investment.”
Noel Wallace, Colgate-Palmolive’s Chairman, President and CEO, says that the strong results in the quarter are adding to the company’s “confidence” that they are successfully executing the “right strategies” to deliver on its updated 2023 financial targets.
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