P&G; Says Profit Will Be in Line With Estimates
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Procter & Gamble Co. said earnings in the current quarter and next fiscal year will be in line with current estimates, but growth will still be below long-term goals as its baby-care, feminine-care and Western European businesses lag.
The company also said it expects a charge of $900 million as it addresses under-performing businesses, higher than the $400- million to $800-million range previously forecast.
Restructuring charges of $1.2 billion in its fiscal fourth quarter will result in a net loss for the quarter, the company said. P&G; shares fell $2.26 to close at $62.60 on the NYSE.
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