Colgate posts higher quarterly profit

Thu Jan 31, 2013 7:09am EST

Jan 31 (Reuters) - Colgate-Palmolive Co posted a higher quarterly profit on Thursday as it raised prices and used more advertising to entice shoppers to buy its toothpaste and other products.

Colgate, which will cut about 6 percent of its workforce in a restructuring announced in October, said it had earned $598 million, or $1.26 per share, in the fourth quarter, up from $590 million, or $1.21 per share, a year earlier.

The latest quarter's results included $73 million, or 15 cents per share, in after-tax charges from the restructuring and costs from the sale of land in Mexico.

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