Colgate-Palmolive Co.’s income fell to $54 million...

Colgate-Palmolive Co.’s income fell to $54 million in 1987 from $177.5 million a year ago, largely because of a $150-million restructuring charge. The New York company said sales rose 13% to $5.6 billion. Sales were up in its household and personal care products division, health care and specialty marketing. It noted, however, that the positive impact of stronger European currencies on the company’s 1987-86 earnings comparison was virtually eliminated by the continued declines in the currencies of Mexico and other Latin American countries.