Playtex profit rise

Playtex Products, the US skin care, feminine and infant care company, has reported a first quarter profit rise. Net income for the quarter ending 2 April was $15 million (GBP 8.5 million), compared with a net income of $8.4 million the year before.

President and CEO, Neil P. DeFeo said, "Overall, we are pleased with our first quarter 2005 results as we continue to strengthen our operations and marketing programs in line with our new strategy announced in early April. We've made progress toward every major area of our new strategy including improving our core category focus, reducing costs, improving our compensation and employee development plans, accelerating new product development, and paying down debt."

Playtex Products expects net sales growth in 2005 to be in the low single digits. Operating income, excluding estimated additional realignment charges of between $6 to $8 million, should amount to $105 million to $115 million.