By  on August 1, 2014

Profits in The Procter & Gamble Co.'s beauty business gained solidly in the fourth quarter despite a dip in sales.

The consumer products giant said the division's net earnings from continuing operations gained 23 percent to $498 million for the quarter. But net sales fell 5 percent to $4.63 billion, with organic sales slipping 3 percent and currency exchange making up the balance of the decline.

For the full year ended June 30, the company's beauty business drove earnings up 11 percent to $2.74 billion on a 2 percent drop in sales, to $19.51 billion.

"Beauty segment organic sales were flat with gains from market growth and product and commercial innovation in hair care, deodorants, and personal cleansing offset by sales decreases in salon professional and skin care from competitive activity and market contraction," the company said, referring to the full year.

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