Gillette Profit Up 23% as Sales Rise, Costs Fall
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Gillette Co. said first-quarter earnings increased 23% after the world’s largest maker of razors reduced costs and increased sales of Mach3 blades more than expected.
Net income for the maker of Duracell batteries and Braun appliances rose to $223 million, or 21 cents a share. Sales rose 6.8% to $1.73billion, more than twice as much as analysts’ forecasts.
Earnings were 2 cents higher than the 19-cent average estimate of analysts surveyed by Thomson Financial/First Call.
Shares of Boston-based Gillette rose $1.47 to $36.32 on the NYSE.
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