P&G Increases Profits After Boosting Sales Volumes, Lowering Costs

Procter&Gamble reported better-than-expected profits in its third quarter after boosting sales volumes and reining in costs. Core earnings increased 5% to $1.04 a share, 3 cents higher than Wall Street expected. Organic sales climbed 3%, led by a 6% jump in laundry and home care brands such as Duracell, Tide and Mr. Clean. The company also said its five-year restructuring plan to streamline operations and manage overheads is currently ahead of schedule. P&G began restructuring in 2012.