Summary Box: Colgate-Palmolive says Venezuela currency to cut into full-year results
By APThursday, July 29, 2010
Summary Box: Colgate-Palmolive
LATIN AMERICA WOES: Colgate-Palmolive Co. says the devaluation of Venezuela’s currency will weigh down its full-year results more than expected.
HOW MUCH? The devaluation could drag down full-year profit by 10 cents to 15 cents per share. Colgate executives previously expected a hit of 6 cents to 10 cents per share.
IMPACT IN CURRENT QUARTER: Officials wouldn’t say how much Venezuela affected this quarter’s profit. For last quarter, the company recorded a hefty charge because of the devaluation.
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