Proctor & Gamble announced it was spinning off its Duracell battery division. The company says the decision was to boost its stock price and to lower the amount of outstanding shares.

It hopes to offer shares of standalone Duracell to shareholders late in 2015, but said there were other options possible, including possibly selling the company.

P&G acquired Duracell in 2005 as part of its purchase of Gillette for $57 billion, the biggest acquisition the company has ever had.

However, P&G, whose products for households include Pampers diapers and Tide detergent, has said it wanted to trim its brands it is currently offering consumers.

In August, P&G said it was going to dump 90 of is less popular and smaller brands. That would leave its portfolio with between 70 and 80 brands. However, those brands dumped are much smaller than its Duracell line.

Duracell is the battery sales market leader ahead of Energizer.

Over the long term, the market is seen as contracting for disposable batteries. Many devices today that are using batteries are designed to pull less energy such as flashlights that are LED.

Other products, like a portable tape player or transistor radios have been replaced by devices that have longer-life or rechargeable batteries.

Duracell makes rechargeable batteries, but its sales are dependant for the most part on disposable ones.

Other businesses have announced spin-offs of different units as an attempt to boost share values. Other such spin-offs include the plan by eBay to split from PayPal and Hewlett Packard’s plans to split software business from its printer and PC business.

In addition, P&G reported $1.99 in net incomes for the latest quarter, which is its fiscal first quarter. The company, based in Cincinnati, earned a profit per share of 69 cents. Earnings, which were adjusted for one-off items of both costs and gains, were $1.07 a share.

The results matched expectations on Wall Street analysts.

The largest consumer products manufacturer in the world posted revenue exceeding $20.78 billion during the three-month period. Analysts expected revenue to reach $20.76 billion.

In trading before the bell on Friday, shares of P&G were up $1.47. Company shares since the start of 2014 are up 2%, while the S&P 500 index has risen by 5.5%. Over the past 12 months, the stock has climbed a modest 3%.

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