P&G: sees sales growth at top of guidance range
(CercleFinance.com) - US consumer goods giant Procter & Gamble said on Thursday that it is now expecting sales growth in the upper end of its previous guidance range.
The company said that it expects growth of 4% to 5% for its fiscal year 2020, against a range of 3% to 5% previously.
P&G said its net sales rose by 5% to 18.2 billion dollars in its second quarter.
Excluding the net impact of foreign exchange, acquisitions and divestments, organic sales also increased 5%.
Net earnings per share (EPS) was 1.41 dollar, up 16%, above the consensus of 1.37 dollar.
Even so, P&G shares were down 2% in pre-market trading.
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The company said that it expects growth of 4% to 5% for its fiscal year 2020, against a range of 3% to 5% previously.
P&G said its net sales rose by 5% to 18.2 billion dollars in its second quarter.
Excluding the net impact of foreign exchange, acquisitions and divestments, organic sales also increased 5%.
Net earnings per share (EPS) was 1.41 dollar, up 16%, above the consensus of 1.37 dollar.
Even so, P&G shares were down 2% in pre-market trading.
Copyright (c) 2020 CercleFinance.com. All rights reserved.