Colgate executives report Hill's Pet second quarter earnings
Organic growth in pet segment boosts second quarter growth
Colgate-Palmolive, parent company of Hill's Pet Nutrition, held an earnings call on July 28, to discuss the company's second quarter 2011 results.
The company is focused on organic sales growth in emerging markets, where the highest quarterly growth in one year was recorded, helped by strong organic growth in the Hill's pet segment, according to Bina Thompson, president of investor relations. In the U.S., Hill's veterinary product channel saw renewed growth in the second quarter, following a decline during the economic recession. Thompson said this growth in the US and Europe is being driven by Vet Exclusive products the company launched earlier in the year, under the Science Diet Healthy Advantage brand in the US and Science Plan VetEssentials name in Europe. Natural petfood is the fastest growing segment within the category, as pet humanization and the inclusion or exclusion of specific ingredients are increasingly driving consumer behavior, according to Cook.
The company expects modest growth for the third quarter of 2011 and the full year, and organic sales growth in the mid-single digits following the launch of several new petfood products. A full transcript of the earnings call is available online.