Mark Banham
Aug 5, 2010

P&G blames marketing costs for Q4 profit drop

GLOBAL - The world's largest advertiser, Procter & Gamble, has reported a 12 per cent drop in profit during the fourth quarter, after increasing its global advertising spend by more than US$1 billion in the past year, to US$8.6 billion.

The company said its profits had been affected by the marketing of several new products this year, including Pampers Dry Max nappies, the Fusion ProGlide razor and white tooth-whitening strips in the Crest 3D range.

Bob McDonald, chief executive of Procter Gamble, said, Our results in fiscal 2010 were ahead of our original expectations, and we are pleased with the trend of the business.

The company recorded earnings of $2.19 bn for the quarter, compared to $2.47 bn...

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