Procter & Gamble Q4 profit up 15%

Cincinnati: Procter & Gamble, the world’s largest consumer products firm, said fourth-quarter profit rose 15% as sales gained in emerging markets and forecast annual revenue that topped some analysts’ estimates.

Net income in the period ended June 30 climbed to $2.51 billion (€11.76bn), or 84 cents a share, from $2.19bn, or 71 cents, a year earlier&. Analysts had predicted 82 cents a share.

Chief executive Bob McDonald has worked to expand sales in emerging markets to reduce dependence on the US, where unemployment has exceeded 9% for 24 of the past 26 months. Higher costs for wood pulp, resin and other materials have prompted Procter & Gamble& to raise prices.