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Colgate-Palmolive has raised its full-year guidance after pledging to pass on higher raw material and logistics costs by further raising prices for its products.

The consumer goods group, whose brands include Speed Stick deodorant and Softsoap, increased its full-year organic sales growth guidance 1 percentage point to between 5 and 7 per cent, but maintained its net sales growth forecast in the 1 to 4 per cent range.

The toothpaste maker reported net sales up 5.5 per cent in the second quarter to $4.48bn, above analysts’ estimates of $4.35bn, according to a Refinitiv poll, and up 5.5 per cent year-on-year. Organic sales grew 9 per cent, with growth in every division.

Colgate reported a jump in costs for raw materials, packaging and logistics in the quarter, as well as a negative 3.5 per…