Duracell Reports Sales, Profits Rose In Q2
By Jeff Malester -- TWICE, 8/18/2003
BOSTON— Sales of Duracell batteries reached $432 million in the second quarter, edging up 1 percent from the same quarter in 2002, reported parent company Gillette.
Profit for Gillette's Duracell battery segment was even healthier, climbing 20 percent year over year, to $54 million.
During the second quarter, Duracell's worldwide unit volume grew, with strong gains in both North America and Europe. This more than offset the impact of lower prices in North America, associated with Duracell's price-deal realignment initiative, and other factors overseas.
Duracell operating profit and margin improved in the second quarter, compared with the same three months a year earlier, driven by savings in both sourcing and manufacturing.
For the six months, Duracell sales hit $611 million, up 13 percent from the year-ago period, while profit of $102 million was essentially flat for the period.
