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Thursday, January 28, 2010

P&G Profits Slide 7% in Latest Quarter: Archrival Colgate-Palmolive Reports 27% Gain

CINCINNATI (TDB) -- From the front lines of the toothpaste war. P&G is a much larger enterprise than competitor Colgate-Palmolive. But Colgate posted superior earnings numbers when the rivals issued their quarterly profit data today. AP's Dan Sewell reports: "The Cincinnati-based company reported Thursday that sales rose 6 percent for its second quarter, a turnaround from sales slumps amid the recession. Its profit slid 7 percent on a lower gain from selling business lines." The SEC filings and quarterly results press release are available here.

Marketwatch has the Colgate numbers: ". . . the New York consumer-products giant reported fourth-quarter net income rose 27% on 11% higher sales." Colgate is projecting double-digit earnings per share growth this year. Procter forecasts its sales are likely to rise more than expected in 2010. Wall Street seemed positive about the data.

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