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P&G profits take a dip

Procter & Gamble fiscal first quarter net income fell seven per cent as costs related to restructuring and the stronger dollar weighed on results.

Procter & Gamble fiscal first quarter net income fell seven per cent as costs related to restructuring and the stronger dollar weighed on results. But the world's largest consumer products maker's adjusted results beat expectations on Wall Street, as it cut costs, made market share gains and commodity costs eased. Procter & Gamble, which makes Tide detergent and Pampers diapers, said it held or grew market share in businesses representing over 45 per cent of its sales during the quarter, up from 30 per cent in the fourth quarter. That jumped to nearly 60 per cent in the U.S..