P&G Profit Rises - Cincinnati News, FOX19-WXIX TV

P&G Profit Rises

Procter & Gamble profit rises 9 percent in fourth quarter

Consumer products giant Procter and Gamble Company says fourth-quarter profit is up nine percent, led by strong volume growth in its beauty, fabric health and home care segments.

The company also backed analysts' earnings forecast for its current quarter and fiscal year. The Cincinnati-based maker of Tide detergent, Pantene shampoo and other household products earned one-and-a-half billion dollars, or 56 cents per share, in the quarter that ended June 30th.

The results beat analysts' predictions by a penny per share. Sales are up ten percent to more than 14-point-two billion dollars. Procter is buying Boston-based Gillette Company. Federal regulators are reviewing the deal, which is expected to close later this year.

P& G's stock are down 75 cents a share to 54-88 in midday trading on the New York Stock Exchange.

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