P&G profits beat analysts’ estimates

Procter & Gamble, whose chief executive is under pressure from activist investor Bill Ackman, raised its 2013 profit forecast and posted quarterly earnings that beat analysts’ estimates after gaining market share in key categories.

Net income more than doubled to $4.06bn (€3.05bn), or $1.39 a share, in the second quarter ended Dec 31P&G said.

The company employs close to 700 people in Ireland.