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CINCINNATI (AP) - Procter & Gamble Co. on Monday reaffirmed early guidance of its first-quarter earnings despite Hurricane Katrina and rising commodity costs.
The consumer products company said it expects earnings per share of 75 cents to 76 cents for the July-September quarter.
P&G's coffee business was disrupted by Katrina, which temporarily shut down the Folgers plant in New Orleans. But higher volume and sales growth, led by its beauty and health businesses, should offset the hurricane's projected 1 cents to 2 cents per share drag on earnings, the company said.
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