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P&G financials

This article was originally published in The Rose Sheet

Executive Summary

Procter & Gamble is moving forward with its integration of Gillette, P&G CFO Clayt Daley says during an April 28 analyst call. Plan involves the creation of new division for blades and razors, Braun shavers and Duracell batteries to be led by Gillette CEO James Kilts, Daley notes. Gillette's oral and personal care franchises will be combined with P&G's oral care, deodorant and Old Spice businesses, exec adds. Merger with Gillette is expected to close this fall. Firm also reports third quarter results, noting, Wella "contributed meaningfully" to beauty care sales, which were up 9% to $4.9 bil. in fiscal Q3 (ended March 31), including a 3% gain from foreign currency. Beauty division's net earnings grew 23% to $701 mil. Health care sales increased 16% to $2 bil., with earnings up 22% to $252 mil. P&G net sales were up 9.7% to $14.3 bil., while earnings jumped 12.6% to $1.7 bil...
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