Fast moving consumer products maker Colgate-Palmolive's (NYSE:CL) saw sales slip in the third quarter.
The toothpaste and soap maker said sales dipped 8.5% from a year earlier to US$3.99bn, which was less than the US$4.07bn the market had been expecting.
The company sang a familiar refrain, saying the strength of the U.S. dollar had put a dent in profits; around four-fifths of the company's revenue comes from abroad.
Profit after tax came in at US$727mln, up from US$542mln in the same period of 2014, and was equivalent to 80 cents per share (2013: 59 cents).
Underlying earnings per share (EPS), which exclude one-off items, were in line with the 72 cents consensus forecast of analysts.
The company increased profits despite the sales dip, having successfully pushed through price increases while it has also cut costs, with selling, general and administrative expenses down to 33.7% of sales in the quarter just ended from 34/2% the year before.
Excluding charges from restructuring, the company now expects full-year EPS will be in the low to mid-single digits.