Consumer products maker Colgate-Palmolive says its third-quarter profit rose 18 per cent as new products gained market share and shoppers continued to pay higher prices for its products.
The maker of toothpaste, dish soap and Ajax cleanser says it earned $US590 million ($A656.5 million), or $1.12 per share, in the quarter that ended in September.
Revenue rose to $US4 billion ($A4.45 billion) from $US3.99 billion ($A4.44 billion), helped by a 5 per cent rise in prices worldwide. Colgate has raised prices to keep up with higher ingredient costs.
Colgate-Palmolive, which is based in New York, also gained market share in its namesake toothpaste in the US and several emerging markets.
AP
