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Currency hit could cost $275 million in Q3.
February 15, 2013
By: TOM BRANNA
Editor
Procter & Gamble is the latest company to feel the effects of Venezuela’s currency devaluation. The company expects to take $200 million to $275 million in one-time charges—the biggest charge a company has disclosed related to the devaluation. Procter & Gamble lowered its third-quarter and fiscal-year income guidance to reflect the new exchange rate and its effects on functions like importing finished products and raw materials. The company said those...
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