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Colgate-Palmolive quarterly profit rises modestly

(Reuters) - Colgate-Palmolive Co (NYS:CL) posted a slightly higher quarterly profit on Thursday as it spent more on advertising to promote products including new versions of its well-known toothpaste.

Colgate said it had earned $656 million (405 million pounds), or 70 cents per share, up slightly from $654 million, or 68 cents per share, a year earlier.

Sales rose 1.5 percent to $4.4 billion. Organic sales, which strip out the impact of acquisitions, divestitures and foreign exchange, were up 6 percent.

(Reporting by Jessica Wohl in Chicago; Editing by Lisa Von Ahn)