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.