Procter & Gamble shows strong profits despite rising costs
The US consumer giant Procter & Gamble Wednesday reported an 8 per cent rise in profit in its third business quarter compared to the same period in the previous year, despite rising costs of raw materials, the dpa reported.
Profits stood at 2.7 billion dollars. Revenues grew 9 per cent to 20.5 billion dollars.
The Cincinnati, Ohio-based firm which produces Pampers and Gilette said it planned to continue strong performance by cutting corners and charging more to the consumer.
The figures exceeded analysts' expectations. Much of the company's success came from the weak dollar, which boosted income from Europe.