P&G profit falls 31%

Procter & Gamble Co, the world's largest consumer-products maker, said Oct-Dec quarter profit fell 31 per cent as the stronger dollar ate away at sales and earnings from its international units. Net income dropped to $2.37 billion, or 82 cents a share, from $3.43 billion, or $1.18, a year earlier, Cincinnati-based P&G said on Tuesday. Excluding some items, profit was $1.06 a share. The average of 21 analysts' estimates compiled by Bloomberg was $1.13.