P&G makes progress in lifting sluggish sales; beats 4Q estimates

Procter & Gamble Co. on Thursday reported fiscal fourth-quarter profit of $2.22 billion.

On a per-share basis, the Cincinnati-based company said it had profit of 82 cents. Earnings, adjusted for restructuring costs, were 85 cents per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The world’s largest consumer products maker posted revenue of $16.08 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $16 billion.

P&G shares have climbed 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 11 percent. The stock has risen nearly 5 percent in the last 12 months.

P&G helps oversee a large distribution operation in Union, recently taking over part of the services. The 1.7 million-square-foot center near Dayton International Airport opened in 2015. About 800 people were employed there when it opened.

More than a third of P&G’s products moves through the facility, with the help of a third-party supply chain manager, Exel, which has about 600 employees at the Union center.

P&G also has a “beauty and innovation” center and campus in Mason that employs 1,500 employees.

The Associated Press contributed to this story.

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