P&G sales post 6% rise in Q2
By Dan Sewell |
January 29, 2010, Friday
|
Print Edition
Print Edition
THE Procter & Gamble Co sees recession-pinched households responding to price cuts, promotions and new versions of its products, as the maker of Pampers diapers and Gillette shavers says its sales are growing.
The Cincinnati-based company yesterday reported sales rose 6 percent for its fiscal second quarter ended on December 31, a turnaround from sales slumps amid the recession. Its profit slid 7 percent on a lower gain from selling business lines.
The world's largest consumer products maker said it earned US$4.66 billion, or US$1.49 per share, with sales of US$21 billion. Earnings got a 47-cent boost from the sale of P&G's prescription drug business. Analysts expected US$1.40 a share on US$21.07 billion in sales.
P&G said organic sales - a key gauge that excludes acquisitions, currency fluctuations and other such effects - were up 5 percent.
The company had forecast organic sales to grow 2 to 5 percent in quarter, and yesterday raised its full-year forecast by 1 percent to a range of 3 to 5 percent for that measure.
Profit fell from US$5 billion a year ago, when earnings were boosted 63 cents a share by P&G's sale of Folgers coffee.
The Cincinnati-based company yesterday reported sales rose 6 percent for its fiscal second quarter ended on December 31, a turnaround from sales slumps amid the recession. Its profit slid 7 percent on a lower gain from selling business lines.
The world's largest consumer products maker said it earned US$4.66 billion, or US$1.49 per share, with sales of US$21 billion. Earnings got a 47-cent boost from the sale of P&G's prescription drug business. Analysts expected US$1.40 a share on US$21.07 billion in sales.
P&G said organic sales - a key gauge that excludes acquisitions, currency fluctuations and other such effects - were up 5 percent.
The company had forecast organic sales to grow 2 to 5 percent in quarter, and yesterday raised its full-year forecast by 1 percent to a range of 3 to 5 percent for that measure.
Profit fell from US$5 billion a year ago, when earnings were boosted 63 cents a share by P&G's sale of Folgers coffee.
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