India, China hit hard due to coronavirus, says Colgate global CEO

Both the countries reported a decline in sales in the March quarter

The global chairman and chief executive officer (CEO) of Colgate-Palmolive, Noel Wallace, on Friday said India and China were the firm’s worst-affected markets in the March quarter, reporting sales decline on account of the Covid-19 pandemic.
 

Colgate withdrew its financial guidance for 2020, citing “uncertainty and volatility”. While Colgate’s March quarter organic sales increased 7.5 per cent from a year ago — led by growth in most regions, including North America, Europe, Latin America, and Africa — Asia-Pacific, which includes India and China, bucked the trend, said Wallace.
 

Addressing investors in a conference call, Wallace said he remained uncertain regarding