Procter&Gamble Earnings Rise 14 Percent

Business results did not exceed analysts' expectations after all, as was the case with other manufacturers of consumer goods.

American manufacturer of hygiene products Procter&Gamble increased its earnings 14 percent in the third quarter, to 2.51 billion dollars, owing to good income from the sales of detergents and body care products. 

Sales income rose eight percent, to 18.7 billion dollars thanks to double-digit increase of the sales volume of numerous brands in the category of cleaning and personal care products. Procter&Gamble’s brands include Tide, Crest, Olay, Gillette and Duracell. 

The company’s business results did not exceed analysts’ expectations, as was the case with other companies that produce consumer goods, so the Procter&Gamble stock became cheaper on Tuesday. 

Deliveries rose six percent, but were adversely affected by the company’s decision to withdraw from the pet food market in March. Other factors that affected the company’s business operations were the high costs of raw goods, including zinc for batteries, green coffee, and pulp used in the production of paper.