Kimberly-Clark profit up, getting out of some European business

Wed Oct 24, 2012 7:41am EDT

Oct 24 (Reuters) - Kimberly-Clark Corp posted a higher quarterly profit on Wednesday and raised its expectations for the year.

The maker of Huggies diapers also said it plans to stop selling diapers in much of Western and Central Europe and get out of some other businesses in that region.

Kimberly-Clark, best known for its Kleenex tissues, earned $517 million, or $1.30 per share, in the third quarter, compared with $432 million, or $1.09 per share, a year earlier.

The company said it now expects to earn $5.15 per share to $5.25 per share this year on an adjusted basis that excludes restructuring costs, up from its July target of $5.05 to $5.20.

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