Gillette reports sharp increase in Q3 earnings

Household goods group Gillette saw third quarter earnings rise by 18%, the company reported today.

Net income rose to $416m (€361), or 41 cents a share, compared with $354m (€307m), or 33 cents a share, from a year ago for the quarter ended September 30.

Analysts had expected a profit of 36 cents per share.

Gillette said earnings were boosted by strong demand for batteries and its Mach3Turbo Champion shaving blade, despite fierce competition.

Net income of blades and razors rose 10 per cent from a year ago with sales increasing 17 per cent to $1.03bn.

Shares in Gillette rose 3.1 per cent to $33.50 (€29) in early trade on Tuesday in New York.