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
