Procter's profit falls 16%

NEW YORK-Procter Gamble & released a smaller quarterly profit last Friday (24), undermined by unfavourable exchange rate and lower gross profit margin. The company had profit of $ 3.43 billion, below the $ 4.06 billion, a year earlier. The manufacturer kept its forecast of sales growth in 2014 unchanged. The company expects organic sales to rise between 3% to 4%, with 5% to advancing profit 7%.