Procter & Gamble Co. net earnings for the first six months of the fiscal year ended Dec. 31 were 23 per cent higher than during the similar period in 1975.
Net earning for the first six months were $235.5 million ($2.85 a share) compared with $191.9 million ($2.33) a year earlier.
Second-quarter net earnings were $101.2 million ($1.22) compared with $86.6 million ($1.05) for the same period last year.
P&G markets a wide range of household products, including soaps and detergents, food products and paper products. It also produces a variety of products for business and industry.
LTV Corp., parent company of Jones & Laughlin Steel Corp., reported net income for 1976 of $30.7 million ($2.34 a share) on sales of $4.5 billion compared with the previous year's $13.1 million ($1.02) on sales of $4.3 billion.
For the fourth quarter of 1976, the company earned $7.3 million (50 cents) on sales of $1.05 billion compared with 1975 fourth-quarter income of $3.9 million (30 cents) on sales of $1.06 billion.
LTV said its J&L subsidiary had 1976 net income of $44 million on sales of $2.05 billion, compared with 1975's $31 million on sales of $1.68 billion. J&L's 1976 fourth-quarter income was $10 million on sales of $480 million compared with 1975 fourth-quarter income of $5 million on sales of $430 million.
Getty Oil Co. reported earnings of $70.99 million ($3.80 a share) for the final quarter of 1976, up from $65,38 million ($3.49) a year earlier as sales rose from $825.74 million to $874.35 million.
For the year, Getty earned $258.47 million ($13.81) on revenues of $3.174 billion. Getty is the nation's 17th largest petroleum company.
President Harold E. Berg said higher natural gas prices and better profit margins on domestic oil-product refining and marketing operations resulted in the gains.
Braniff International announced record earnings of $26.2 million ($1.31 a share) for 1976, an increase of 64 per cent over earnings for 1975 of $16 million (80 cents) in spite of additional costs of fuel supplies. Revenues rose from $598.9 million in 1975 to $679.7 million. The company also revealed record earnings for the fourth quarter of 1976.
"The record earnings, revenues and airline passenger traffic were in large part the result of having the right types and numbers of aircraft on the right routes and providing attractive multi-choice schedules in each of our markets, said Braniff board chairman Harding L. Lawrence.
Fourth-quarter earnings totaled $9.4 million (46 cents) an increase of 143 per cent over earnings for the same period a year earlier of $3.8 million (19 cents). Revenues rose from $156.1 million to $180.3 million.
Lawrence said the 1976 results were achieved in spite of a 27.5 per cent increase in the average price of jet fuel after a favourable long-term contract from one of the company's principal suppliers expired at the end of 1975.
Lawrence said the airline's passenger traffic in 1976 grew at a rate of 9.9 per cent, setting a record of 6.9 billion revenue passenger miles.
Kennecott Copper Corp. reported a loss of $5.1 million for the final quarter of 1976 in contrast with a profit of $9.7 million (30 cents a share) a year earlier.
However, the 1976 fourth-quarter results do not include any earnings from the Peabody Coal subsidiary, which Kennecott is in the process of divesting.
The company said that, should the Federal Trade Commission disapprove the divestiture and Peabody earnings subsequently be included with Kennecott's other operations, the company then would report a profit of about $6.1 million (18 cents) for the quarter.
For the full year, Kennecott reported a profit of $8.8 million (27 cents) compared with $21.7 million (66 cents) a year ago. But if Peabody had been included, Kennecott could have reported 1976 earnings of $19.9 million (60 cents).
Sales of the operations excluding Peabody were $256.4 million for the quarter against $213.7 million for the year against $803.1 million in 1975.