Consumer products company, Procter & Gamble, said quarterly profits rose 22 per cent, boosted by its acquisition of the Wella hair-care business and strong sales of over-the-counter flu medications.
The maker of Tide laundry detergent, Pampers diapers and the cold and flu treatment Vicks
posted sales growth of at least 6 per cent in all of its businesses, topped by 50 per cent in beauty care, which includes Herbal Essences shampoo and Olay skin-care products.
P&G posted profit of $1.82 billion, or $1.30 a share as sales rose 20 per cent to $13.22 billion.
P&G has ridden a wave of acquisitions in the health-care and hair-care businesses, as well as a streamlined organisation, to post some of the best earnings growth in the consumer products sector in recent quarters.