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Procter & Gamble 3Q profit up 14 percent

Procter & Gamble 3Q profit up 14 percent

Procter & Gamble Co., the world's largest consumer products company, said Tuesday its third-quarter earnings rose 14 percent on higher sales of its health products and razors.
The Cincinnati company, whose products range from Tide laundry detergent to Head & Shoulders shampoo to Gillette razors, boosted its full-year earnings target on the strong quarterly sales.
P&G said net income in the three months ended March 31 climbed to $2.51 billion (euro1.84 billion), or 74 cents per share, from $2.21 billion, or 63 cents per share, in the year-earlier period.
The result was in line with the expectations of analysts polled by Thomson Financial.
Sales added 8 percent to $18.69 billion (euro13.74 billion) from $17.25 billion a year ago, exceeding Wall Street's forecast for $18.56 billion.
"Strong results this quarter were driven by the growth of P&G's leading brands, Gillette synergy benefits and continued cost discipline," said Chairman, President and Chief Executive A.G. Lafley.
For the first nine months of the fiscal year, net earnings were up 19 percent at $8.07 billion (euro5.93 billion), or $2.37 a share, compared with $6.79 billion, or $2.10 a share, a year ago. Net sales increased 14 percent to $57.20 billion (euro42.04 billion) from $50.38 billion.
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http://pg.com


Updated : 2021-04-10 19:40 GMT+08:00