Firms post strong profits

CINCINNATI — Boosted by new products from familiar brands and growth in emerging markets, consumer products makers Procter & Gamble Co. and Colgate-Palmolive Co. posted double-digit quarterly earnings increases Tuesday and offered bright outlooks.

"We are now in the best position we have ever been of stuff coming along to help our gross profit," Colgate-Palmolive Chief Executive Reuben Mark said in a conference call with investors. The company said it has a full pipeline of new products around the world and expects double-digit earnings per share growth for the year ahead.

The New York-based maker of toothpaste, soaps and Science Diet pet food said fourth-quarter profit rose 11 percent as revenue increased across divisions.

Cincinnati-based P&G said its profit jumped 12 percent in the second quarter of its fiscal year, and raised its outlook for the year.

The company cited the strong quarter and progress in its integration of the Gillette Co., with the Blades & Razors division contributing an 11 percent sales increase led by the year-old Gillette Fusion. The company also reported good sales of new products such as Tide Simple Pleasures detergent, Febreze Noticeables air fresheners, Olay Definity skin cream, Crest Pro-Health toothpaste and additions to the Swiffer duster line.

"We have been working for six or seven years now to build a robust innovation and initiative portfolio," A.G. Lafley, P&G's chairman, president and chief executive, told analysts. "Every year we have built the size, we have built the strength and we have built the success rate of this innovation portfolio."

The company is delighted with the Gillette Fusion razor, which it showed off during last year's Super Bowl telecast. The five-blade razor system has already racked up $400 million in North American retail sales, is off to a strong start after later launches in England, Germany and Japan, and is being rolled out in markets including Australia and eastern Europe, P&G said.

A Fusion Phantom razor and a Venus Breeze female shaver with built-in gel are being launched in North America.

Meanwhile, Colgate-Palmolive plans to launch Colgate Total Advanced Clean, which will begin shipping at the end of February. The company's leading share of the U.S. toothpaste market grew to 37.3 percent last year led by sales of Colgate Total, according to data from ACNielsen.

New products introduced in the United States include Colgate Luminous Mint Twist toothpaste, Colgate 360 degree toothbrush, Irish Spring MoistureBlast bar soap and Fabuloso multi-purpose spray cleaner.