P&G plans to increase prices to maintain strong performance

Published: 6-Aug-2008

Procter & Gamble has reported a quarterly profit rise of 33%, aided by tax benefits. The cosmetic and household products giant, whose portfolio includes Gillette, Olay, and Head & Shoulders, announced a fiscal fourth-quarter net income of $3.02bn, compared with $2.27bn in the same period, 2007. Sales were also up, rising 10% to $21.3bn.


Procter & Gamble has reported a quarterly profit rise of 33%, aided by tax benefits. The cosmetic and household products giant, whose portfolio includes Gillette, Olay, and Head & Shoulders, announced a fiscal fourth-quarter net income of $3.02bn, compared with $2.27bn in the same period, 2007. Sales were also up, rising 10% to $21.3bn.

However, P&G predicts that commodity and energy costs will be up $3bn in fiscal 2009 compared to fiscal 2008, and to recoup the company is raising the price of products including shampoos, perfumes and soaps by an average of 2%.

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