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P&G's profit rises on higher sales of home care products

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P&G's profit rises on higher sales of home care products

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(Reuters) – Consumer goods giant Procter & Gamble Co <PG.N> on Friday reported a five percent rise in quarterly profit, as it saw higher sales of fabric softeners and laundry detergents. The maker of Tide detergent and Pampers diapers said net income attributable to the company rose to $2.85 billion (£2.1 billion) or $1.06 per share in the first quarter ended Sept. 30, compared with $2.71 billion, or 96 cents per share, a year ago. Net sales for the company, which recently won an historic proxy fight battle with hedge fund manager Nelson Peltz who tried to muscle onto its board, rose to $16.65 billion from $16.52 billion a year earlier. Analysts on average had expected sales of $16.69 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Siddharth Cavale in Bengaluru; Editing by Bernard Orr)
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