Colgate Brushes Up Its Bottom Line With Restructuring Initiative
This article was originally published in The Rose Sheet
Executive Summary
Colgate is undertaking a four-year restructuring and business-building plan aimed at increasing the company's gross profit and operating profit by generating annual savings of $250 mil.-$300 mil. after tax by the fourth year. After tax savings in 2005 are expected to be approximately $45 mil
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Colgate revises restructuring expectations
The 2004 Restructuring Program is progressing on schedule, Colgate-Palmolive execs say during April 25 first-quarter analyst call. Announced in December 2004, the four-year restructuring program was expected to deliver ongoing savings of $250 mil. to $300 mil. after tax, annually, by 2008 (1"The Rose Sheet" Dec. 13, 2004, p. 4). However, the company has since identified additional savings projects that allow the firm to save an additional $50 million after-tax, execs note. Consequently, the company has revised its savings projections, now saying the program will result in $300 mil. to $350 mil. in savings after-tax. Colgate adds that it plans to obtain these additional savings without extending the length of the program beyond its anticipated completion date of Dec. 31, 2008...
Colgate revises restructuring expectations
The 2004 Restructuring Program is progressing on schedule, Colgate-Palmolive execs say during April 25 first-quarter analyst call. Announced in December 2004, the four-year restructuring program was expected to deliver ongoing savings of $250 mil. to $300 mil. after tax, annually, by 2008 (1"The Rose Sheet" Dec. 13, 2004, p. 4). However, the company has since identified additional savings projects that allow the firm to save an additional $50 million after-tax, execs note. Consequently, the company has revised its savings projections, now saying the program will result in $300 mil. to $350 mil. in savings after-tax. Colgate adds that it plans to obtain these additional savings without extending the length of the program beyond its anticipated completion date of Dec. 31, 2008...
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