By Matt Grossman

Colgate-Palmolive Co. on Friday logged a roughly flat profit year-over-year in the latest quarter, a result that confirmed analysts' expectations.

The New York City-based consumer-products company posted a fourth-quarter profit of $647 million, or 75 cents a share, compared with a profit of $643 million--flat on a per-share basis--in the same three-month period a year earlier.

Excluding one-time items, the company's profit was 77 cents a share. Analysts surveyed by FactSet had forecast an adjusted profit of 76 cents a share.

Revenue was $4.32 billion, an increase of 7.5% from the $4.02 billion in revenue it reported in the fourth quarter of 2019. Analysts were anticipating revenue of $4.15 billion.

Sales in North America grew by 10%, while European sales were up 14% year over year. Colgate's Latin American sales ticked down by 2.5% in the quarter.

Chairman and Chief Executive Noel Wallace said the company has seen benefits from higher consumer demand due to the Covid-19 pandemic.

Colgate said its operating profit in North America decreased as a proportion of net sales, however, as higher materials costs, increased advertising spending and greater overhead expenses affected the company's margin.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

01-29-21 0724ET