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Colgate to take hit from Venezuela devaluation

US consumer goods giant Colgate-Palmolive said Monday it would take a significant loss in the current quarter from Venezuela's 32 percent currency devaluation announced last week. The company said that in a preliminary assessment of the impact of the devaluation of the bolivar, it would take a one-time after-tax loss of $120 million, or $0.25 per share, in the 2013 first quarter, "related to the re-measurement of the local balance sheet at the date of the devaluation."
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