P&G reports 1% rev gain

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Procter & Gamble Co. reported a 13% increase in earnings to $944 million for the second quarter ended Dec. 31, reflecting cost savings achieved through marketing and manufacturing simplification. Growth remained sluggish, with revenue rising 1% in the quarter to $9.1 billion. Sales in the U.S. grew 3%, helped by strong gains in the laundry and snacks categories. Sales in Asia declined 8%, in part because of competitive pressure in Japan.

Copyright January 1997, Crain Communications Inc.

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