P&G sees profit rise, boosted by China sales
Procter & Gamble posted a 20 percent jump in quarterly profits on Friday, reaching $4.8 billion as the consumer goods giant benefited from stronger Chinese sales and reduced tariff impacts. Revenue climbed 3 percent to $22.4 billion for the quarter that ended on Sept. 30, with gains across all five product divisions led by beauty and grooming lines.
The company lowered its projected tariff damage to $500 million for fiscal 2026, half its previous estimate, after the White House granted exemptions for natural materials not produced domestically. Chief Financial Officer Andre Schulten credited the administration for excluding items like eucalyptus pulp from import duties, calling the decision sensible and appreciated.
The maker of Tide and Pampers continues cutting 7,000 non-manufacturing positions over two years to create leaner teams better equipped for digital operations. Sales in greater China rose 5 percent following operational and marketing adjustments, though Schulten warned the competitive landscape remains tough. Company shares gained 1.2 percent in midday trading.
