Procter & Gamble 4Q profit jumps 33 percent

Procter & Gamble 4Q profit jumps 33 percent

CINCINNATI (AP) -- The Procter & Gamble Co., flexing its brand strength, reported a 33 percent jump in fourth-quarter profit Tuesday as the consumer products maker battles soaring energy and commodity costs with higher prices and product improvements.

P&G said results were also helped by good growth in developing markets such as China and Russia, the weaker dollar, and cost-cutting efforts.

The maker of Tide detergent, Olay skin care and Pampers diapers said it earned $3.02 billion, or 92 cents per share, up from $2.27 billion, or 67 cents per share, a year earlier. Excluding tax benefits, P&G earned 80 cents per share.

The Cincinnati-based consumer products company said revenue jumped to $21.27 billion from $19.27 billion for the quarter, topping analyst expectations for $21.05 billion.

P&G, which has been raising prices to offset rising energy and raw materials costs, also cited favorable foreign exchange rates and double-digit sales growth in emerging markets. For its full fiscal year, sales rose 9 percent to $83.5 billion.