P&G profit jumps 16 percent on strong global sales

NEW YORK: US percent in the company's third quarter as sales increased in all its regions around the world.

The maker of Crest toothpaste, Braun shavers, Tide laundry detergent and other major consumer brands reported net income of $2.9 billion in the January-March period, a gain of 11 percent from a year ago.

Net sales rose 5.0 percent to $20.2 billion as market share increased in all geographic regions, the company said in a statement.

Earnings per share were 96 cents, a rise of 16 percent from the year-ago period that was driven by a reduction in the effective tax rate and a drop in shares outstanding, the Cincinnati, Ohio-based firm said.