Procter & Gamble Co is slowly luring back budget-battered consumers to its big brands, while attracting new buyers around the globe by getting more products into emerging markets such as India and China.
The world’s largest consumer products maker said on Tuesday that net income was USD3.08 billion, down from USD3.3b a year ago. Sales rose nearly 2 percent to USD20.1b.
According to CEO Bob McDonald, sales of the new Gillette Fusion ProGlide, introduced in June, were strong despite its 15 percent higher price. Olay skin cream and other beauty products oriented toward women buyers also sold more, although higher-end salon and prestige brands lagged.
(Source: The Sydney Morning Herald Online)