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Risk-inclined investors bet on P&G playing catch-up

Colgate-Palmolive is, to oversimplify only slightly, a better company than Procter & Gamble. Colgate’s organic sales growth during the past two years has averaged just under 5 per cent, against P&G’s 3.5 per cent. Colgate’s operating margins are consistently higher than its larger rival’s, it has a deeper presence in emerging markets, and its returns on invested capital are considerably higher.