Procter & Gamble profit down despite volume growth

By @ibtimes on

Procter & Gamble Co posted a lower quarterly profit as it deals with rising commodity costs and little to no category growth in developed markets such as the United States.

The maker of Gillette razors and Crest toothpaste earned $3.33 billion, or $1.11 per share, in the second quarter that ended in December, down from $4.66 billion, or $1.49 per share, a year earlier. Much of the decline stemmed from a gain in the year-ago period from the sale of its pharmaceuticals business.

(Reporting by Jessica Wohl; Editing by Lisa Von Ahn)

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