Procter & Gamble posts 3.33 billion dollar Q2 net income

Jan 27, 2011, 13:40 GMT

New York - US consumer goods giant Procter & Gamble (P&G) reported Thursday fiscal second-quarter net income of 3.33 billion dollars, down from the year before, amid a slight rise in sales.

The Cincinnati, Ohio-based concern, known for its Gillette brand of shaving equipment and Duracell batteries, said sales in the quarter ending December 31 came to 21.3 billion dollars, up 1.5 per cent.

The net income was well down from 4.66 billion dollars in the same period a year earlier, in results which had reflected gains from the P&G sale of a prescription-drug unit.

On a continuing operations bases, second-quarter profit was also 3.33 billion dollars, up 5.8 per cent from the year-earlier period, P&G said.

The Bloomberg financial news agency said the continuing operations profit, after exclusion of some items, was 1.13 dollars per share, up slightly on the average of 1.09 dollars in a survey of stock analysts.

For the third quarter, P&G predicted its sales would rise by 5 to 7 per cent, with earnings foreseen at 95 cents to 1 dollar per share.

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