Procter & Gamble reported declines in both sales and profits Wednesday, saying challenging geopolitical and economic conditions hit consumer demand. The maker of Tide detergent and Head & Shoulders shampoo reported earnings in its fiscal third-quarter of $2.5 billion, down 8.3 percent. Revenues were $15.6 billion, down 1.0 percent. "The third quarter macro environment was characterised by a slowdown in market growth, continued geopolitical disruptions and foreign exchange challenges," said chief executive David Taylor.
P&G's strongest division as far as revenues was health care, the only division with net sales growth, where results were boosted by strong sales in power toothbrushes and oral products.
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