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Prelude to the Best Sommelier of Canada Contest | SaltWire - Kimberly-Clark lifted its annual profit forecast for the third time this year after its quarterly profit beat estimates on Tuesday, backed by higher prices and resilient demand for personal care products.
That coupled with easing cost pressures helped it boost gross margins by 530 basis points to 35.8% in the third quarter, echoing larger rival Procter & Gamble that last week also reported an increase in margins. The personal care products maker expects its annual adjusted earnings per share to rise between 15% and 17%, up from previous expectations for 10% to 14% growth.
The company, which also sells Huggies diapers, raised the lower-end of its organic sales forecast to between 4% and 5% growth, compared to its prior target of 3% to 5%.
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