Procter & Gamble’s Profit Increases 20%
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From Bloomberg News
Procter & Gamble Co., the biggest maker of household goods in the U.S., said profit for its fiscal third quarter rose 20% as sales surged at the fastest pace in more than a decade.
Net income increased to $1.53 billion, or $1.09 a share, from $1.27 billion, or 91 cents, a year earlier.
Sales rose 22% to $13 billion, the Cincinnati-based company said.
Shares of Procter & Gamble, which also makes Tide detergent and Pringles snacks, fell 22 cents to $105.75 on the New York Stock Exchange.
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