Procter & Gamble: raises full-year organic growth forecast
(CercleFinance.com) - Procter & Gamble, the world's biggest household product maker, raised its guidance for organic sales growth from a range of 2%-4% to 4% for its current fiscal year.
Net sales for the third quarter of fiscal year 2019, ended 31 March, rose by just 1% to 16.5 billion dollars.
However, excluding the impacts of foreign exchange, acquisitions and disposals, organic sales increased by 5%, the US giant said.
P&G said that it benfitted from a strong growth in developed markets and the sound growth momentum of premium priced products, such as the moisturizer SK-II and Tide Pods laundry detergent.
Core EPS was 1.06 dollar, up 6%, driven by a lower effective tax rate, it added.
For the current fiscal year, the company maintained its earnings guidance range.
P&G shares were down slightly in pre-market trading after these results.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Net sales for the third quarter of fiscal year 2019, ended 31 March, rose by just 1% to 16.5 billion dollars.
However, excluding the impacts of foreign exchange, acquisitions and disposals, organic sales increased by 5%, the US giant said.
P&G said that it benfitted from a strong growth in developed markets and the sound growth momentum of premium priced products, such as the moisturizer SK-II and Tide Pods laundry detergent.
Core EPS was 1.06 dollar, up 6%, driven by a lower effective tax rate, it added.
For the current fiscal year, the company maintained its earnings guidance range.
P&G shares were down slightly in pre-market trading after these results.
Copyright (c) 2019 CercleFinance.com. All rights reserved.