P&G posts 34% fall in Q3 profit

By AAP with a staff

P&G, which makes Pantene shampoo, Tide detergent and other household staples, reported quarterly earnings of $US2. 01 billion ($A2. 17 billion), down 34. 2 per cent from last year on slightly lower sales.

US consumer products giant Procter & Gamble has reported a big drop in earnings following a large asset write-down, as it announced plans to exit the Duracell battery business.

The biggest factor behind the lower earnings was a $US932 million one-time charge to write down the value of its Duracell battery business, which P&G plans to unload.

Read more here: Business Spectator


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