Procter & Gamble 4Q Profit Up 44 Percent

Procter & Gamble Co. reported earnings soared 44% in its fourth fiscal quarter with growth in its beauty and health care businesses pushing its full-year sales past $50 billion for the first time. The company said it earned $1.37 billion for the three months ended June 30, up from $955 million a year ago. April-June sales increased to $12.96 billion from $10.92 billion last year. By segment, unit volume for the quarter was up 41% in beauty care, 13% in health care, 9% in snacks and beverages and 8% in both baby and family care and fabric and home care.

For the fiscal year, P&G earned $6.48 billion on sales of $51.4 billion, up from earnings of $5.19 billion on sales of $43.3 billion in 2003.

“This is the third consecutive year of broad-based strength across businesses and geographies, demonstrating the power of focused strategies and the sustained benefits of the systemic and structural changes we made over the past several years,” said A.G. Lafley, P&G’s chairman, president and chief executive.