Manufacturing Industry
Procter & Gamble earnings rise, Clarion brand to be discontinued.
Cosmetics International, March, 1994
Procter and Gamble Co announced net earnings for Oct-Dec 1993 rose 13% over 1992's earnings. The less favorable exchange rate affected earnings, since a level exchange rate would have seen an increase in net earnings by 17%. Turnover for the period declined from $7,839 million to $7,788 million. Meanwhile, Procter and Gamble also announced that it would discontinue the unsuccessful Clarion brand, which it acquired from Noxell in 1989, and focus on its Cover Girl and Max Factor International brands.
Quarterly results released by The Procter & Gamble Company show that net earnings for the October December quarter increased by 13 per cent from the same quarter in the previous year. Earnings per share were up by 14 per cent from the previous year.
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