C&D posts 9.1% sales increase for 2008, outlines plans for 2009

2/5/2009

PRINCETON, N.J. Church & Dwight on Thursday outlined its plans for 2009, after posting a 2008 sales increase of 9.1% to $2.4 billion for the period ended Dec. 31, 2008.

“We are very proud of the business results and strategic initiatives that we accomplished in 2008,” noted James Craigie, C&D chairman and CEO. “We delivered solid organic sales growth, increased gross margin and generated record free cash flow. In addition, we acquired the net assets of the Del Pharmaceuticals’ over-the-counter businesses from Coty, began the construction of a new integrated laundry detergent manufacturing plant and distribution center in York County, Pa., and completed the roll-out of concentrated liquid laundry detergent,” he said. “We will continue to introduce a steady pipeline of new and improved products in 2009. New and improved products were a key driver of our strong organic growth in 2008.”

Going forward in the family planning arena, for example, C&D is launching two new Trojan products — Trojan 2 Go, which contains two condoms in a pocket-sized card to make it easier to discreetly carry condoms, and Trojan Ecstasy, which features a unique comfort shape and UltraSmooth lubricant.

“While we were able to deliver record performance in 2008, there is a great deal of uncertainty regarding the economic environment in 2009,” Craigie added. “We are prudently planning for further deterioration in consumer spending, and we expect that this will impact some of our categories. These market conditions are being exacerbated by actions by some retailers to increase shelf space in support of their private-label brands. Accordingly, we are projecting organic revenue growth to be approximately 2% in 2009."

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