Procter & Gamble earnings rise 14 percent

CINCINNATI - Procter & Gamble Co., the world's largest consumer products company, said Tuesday its third-quarter earnings rose 14 percent on higher sales of its health products and razors. The Cincinnati company, whose products range from Tide laundry detergent to Head & Shoulders shampoo to Gillette razors, boosted its full-year earnings target on the strong quarterly sales. P&G said net income in the three months ended March 31 climbed to $2.51 billion, or 74 cents per share, from $2.21 billion, or 28 cents per share, in the year-earlier period. The result was in line with the expectations of analysts polled by Thomson Financial. Sales added 8 percent to $18.69 billion from $17.25 billion a year ago, exceeding Wall Street's forecast for $18.56 billion. "Strong results this quarter were driven by the growth of P&G's leading brands, Gillette synergy benefits and continued cost discipline," said Chairman, President and Chief Executive A.G. Lafley. - GMANews.TV