Bloomberg: Procter & Gamble Co. will leave the battery business as its CEO, A.G. Lafley, works to slim down the company.
Bloomberg: Procter & Gamble Co. will leave the battery business as its CEO, A.G. Lafley, works to slim down the company.
Net income fell 34 percent to $1.99 billion, or 69 cents a share, from $3.03 billion, or $1.04 a share, a year earlier, the Cincinnati-based company said today in a statement. Excluding some items, profit was $1.07 a share, matching the average of 21 analysts’ estimates compiled by Bloomberg.
Lafley has been streamlining the world’s largest consumer-products company by cutting costs, selling its pet-food business and starting the process of jettisoning as many as 100 slow-selling brands. P&G today said it would exit Duracell, preferably by splitting the business into a standalone company and giving shareholders the option of exchanging P&G shares for stock in the new entity.
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