P&G's Net Rose in Fiscal Q4, Driven by Price Increases

04 August 2006

CINCINATTI: Worries over a likely decline in global consumer spending were slightly assuaged by Procter & Gamble's fiscal fourth quarter results - the more so since the bullish numbers were boosted by increases in product pricing.

Net income in the quarter to June 30 rose 36% year-on-year to $1.9 billion (€1.48bn; £1.01bn), from $1.39bn. Much of that increase was due to last fall's acquisition of Gillette, but P&G's results were strong even excluding the impact of that acquisition.

Sales grew 25% to $17.84bn, but even on a like-for-like basis the increase was still a healthy 8%, bettering the company's projections of a 4%-6% increase.