Procter & Gamble profit skids

Reuters

Procter & Gamble Co posted a nearly 50 percent drop in net income on Thursday, its first results since bringing veteran Chief Executive Officer A.G. Lafley back in May to run the world's largest household products maker.

P&G earned $1.88 billion, or 64 cents per share, in the fiscal fourth quarter, down from $3.63 billion, or $1.24 per share, a year earlier.

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