Last year's acquisition of The Gillette Company by Procter and Gamble helped boost the latter's second fiscal quarter profits by 29% to $2.55 billion (€2.10bn; £1.44bn).

Fiscal Q2 is the first trading period in which Gillette's revenues contributed to P&G's accounts, boosting profits growth for the globe's largest advertiser to the fastest rate in over a decade.

Revenue growth also soared year-on-year by 27% to $18.3bn, underscoring the value of what P&G's largest shareholder, Warren Buffett, hailed as a "dream deal".

This was further highlighted by P&G's revelation that - had it excluded the Gillette numbers from its Q2 results (and allowing for a 2% negative impact from exchange rates) - revenue growth would have been down to just 8%.

The news set happy bunnies cavorting among the daisies on Wall Street, one such furry denizen, Morgan Stanley analyst William Pecoriello, greeting the result as "unequivocally strong [with] attractive intrinsic valuation that's masked by charges and the mechanics of the [Gillette] dilution".

For the full fiscal year, P&G upped its 2006 revenue growth forecast to 18%-20%, compared with its earlier estimate of up to 19%. It also increased profit estimates to between $2.58-$2.62 per share, up from $2.54-$2.60.

Data sourced from Financial Times Online; additional content by WARC staff