P&G Profit Jumps 11% on Strong Global Sales

Developing countries led a 5% net sales growth to $20.2 billion as market share increased in all geographic regions

Consumer products giant Procter & Gamble said on April 28 that net profits rose 11% in its third quarter.

The maker of Crest toothpaste, Braun shavers, Tide laundry detergent and other major consumer brands reported net income of $2.9 billion in the January-March period.

Earnings per share were 96 cents, a rise of 16% from the year-ago period that was driven by a reduction in the effective tax rate and a drop in shares outstanding, the Cincinnati, Ohio-based firm said.

Developing countries led a 5% net sales growth to $20.2 billion as market share increased in all geographic regions, helped by a favorable exchange rate.

"We delivered broad-based volume, sales, and market share growth, and grew EPS in a very difficult operating environment," P&G chief executive Bob McDonald said.

Copyright Agence France-Presse, 2011

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