Boosted by improved margins, first-quarter profit climbed 33% for consumer product company Procter & Gamble, Cincinnati, OH. The Pampers diapers maker also lifted its full-year earnings outlook on a better commodity and energy cost forecast.
Net income for the quarter that ended Sept. 30 rose to $2.7 billion from $2.03 billion in the year-ago period. Revenue increased 27% to $18.79 billion from $14.8 billion last year on strong results from the company's base business advertisement
"The company delivered broad-based growth behind strong innovation on both the base business and Gillette," said A.G. Lafley, chairman, president and chief executive.
P&G's $57-billion acquisition of Gillette closed Oct. 1, 2005. The company noted that the next quarter would be the first in which Gillette results would be included in P&G's organic sales, which exclude the effects of acquisitions and divestitures.