Advertisement

Archive for Tuesday, August 2, 2005

Procter & Gamble buying into growth

August 2, 2005

Advertisement

Procter & Gamble Co. is setting its sights on expanding its brands and global reach with the pending acquisition of the Gillette Co.

"Together, we will have even more capability," said A.G. Lafley, P&G's chairman, president and chief executive, after the company on Monday posted a 9 percent increase in profits for its fourth quarter.

P&G reported earnings of $1.5 billion, or 56 cents per share, for the three months ended June 30, compared with $1.37 billion, or 50 cents per share, a year earlier.

The $57 billion acquisition of Gillette will add razors and Duracell batteries to P&G products, which include Tide detergent, Pampers diapers and Crest toothpaste.

Comments

Use the comment form below to begin a discussion about this content.

Commenting has been disabled for this item.