Hill’s Pet Nutrition accounts for 20% of Colgate-Palmolive total sales in Q4 2021
The American pet food company increased net sales by 12% in the period thanks to growth in the US and Europe.
The Kansas-based manufacturer posted an operating profit of $241 million (€212.8M), 18% more than in the last quarter of 2020. This was due to the higher pricing, cost savings and the decrease in the advertising investment, among others.
On the other side, the company had to face “significantly” higher raw and packaging material costs.
“We were pleased to finish 2021 with a continuation of our strong growth momentum, particularly in our oral care and pet nutrition businesses, both of which delivered an acceleration in net and organic sales growth in the full year 2021 versus 2020”, said CEO Noel Wallace to investors.
In Q3 2021, Hill’s Pet Nutrition sales represented 19% of the total group sales.
The group also announced that the sales of Hill’s increased by 15% in the year ended 31st December 2021.
According to the official figures, the net sales of Colgate’s pet nutrition segment accounted for $885 million (€781.7M) against $789 million (€696.9M) in the same period of 2020.
The group registered a global profit of $936 million (€826.8M) in Q4 2021, down by 3%.
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