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P&G Expects Double-Digit Earnings Growth

Reuters
Thursday, 14 Dec 2006 | 10:05 AM ET

Procter & Gamble should return to double-digit earnings per share growth by fiscal 2008, Chief Financial Officer Clayt Daley said.

Daley, speaking to analysts and investors at the company's Cincinnati headquarters, also said that the integration of Gillette, which P&G bought in October 2005, is still on track. He said that he is confident in P&G's long-term sales growth target of 5% to 7%.

P&G's president of global grooming, Chip Bergh, said the company will introduce a new women's razor, Venus Breeze. The razor has a flexible strip of shaving gel, eliminating the need to use a separate shaving cream.

Rival Schick's Intuition razor, which has been on the market for years, has three razor blades surrounded by a skin conditioner, which lathers when wet. Schick is owned by Energizer Holdings.

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