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P&G’s Quarterly Profit Jumps

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By: TOM BRANNA

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Cincinnati-based Procter & Gamble announced that its quarterly profit jumped 37%. This was due to factors such as the addition of Gillette products to its lineup, price increases and cost cuts. However, sales fell short of Wall Street’s target and P&G’s shares fell about 2% in premarket trading. The manufacturer of consumer products earned $2.21 billion (63 cents per share) in its third quarter, up from $1.61 billion (59 cents) a year earlier. In March, Procter said it e...

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