updated 5/1/2007 8:16:09 AM ET 2007-05-01T12:16:09

Procter & Gamble Co., the world’s largest consumer products company, said Tuesday its third-quarter earnings rose 14 percent on higher sales of its health products and razors.

The Cincinnati company, whose products range from Tide laundry detergent to Head & Shoulders shampoo to Gillette razors, boosted its full-year earnings target on the strong quarterly sales.

P&G said net income in the three months ended March 31 climbed to $2.51 billion, or 74 cents per share, from $2.21 billion, or 28 cents per share, in the year-earlier period.

The result was in line with the expectations of analysts polled by Thomson Financial.

Sales added 8 percent to $18.69 billion from $17.25 billion a year ago, exceeding Wall Street’s forecast for $18.56 billion.

“Strong results this quarter were driven by the growth of P&G’s leading brands, Gillette synergy benefits and continued cost discipline,” said Chairman, President and Chief Executive A.G. Lafley.

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