Hill’s Pet Nutrition sales jump 12% in 2022 with strong Q4
The producer’s operating profit decreased by 3% to $850 million last year.
Hill’s sales grew from $3.31 billion (€3B) in 2021 to $3.71 billion (€3.41B) in 2022. The revenue increased by 20% and hit $1 billion (€920M) in the last 3 months of 2022.
According to the Colgate-Palmolive subsidiary, the US and Europe drove sales in the quarter.
The profits of the pet portfolio accounted for $233 million (€214M) in the last quarter of 2022 (-3%) due to higher costs of raw and packaging materials. On the other hand, the higher pricing and the decreased advertising in investment positively impacted the numbers.
“We are very pleased to have finished 2022 with a continuation of our strong growth momentum, as 2022 was our fourth consecutive year delivering organic sales growth at or above our 3% to 5% long-term targeted range,” said Colgate-Palmolive CEO Noel Wallace.
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