News Brief

P&G, Colgate Boast Double-Digit Earnings Growth

Both Procter & Gamble and Colgate-Palmolive posted double-digit quarterly earnings increases yesterday. The companies credited new products from familiar brands and growth in emerging markets.

The New York-based Colgate-Palmolive reported fourth-quarter profit rose 11% as revenue increased across divisions.

In a conference call with investors, Colgate-Palmolive CEO Reuben Mark said the company has a full pipeline of new products around the world and expects double-digit earnings per share growth for the year ahead.

Cincinnati-based P&G said its profit jumped 12% in the second quarter of its fiscal year, and raised its outlook for the year.

The company cited the strong quarter and progress in its integration of the Gillette Co., with the division contributing an 11% sales increase led by the year-old Gillette Fusion. The company also reported good sales of new products such as Tide Simple Pleasures detergent, Febreze Noticeables air fresheners, Olay Definity skin cream, Crest Pro Health toothpaste and additions to the Swiffer duster line.