Updated on 6 August 2012
P&G records net sales of $20.2 billion
Singapore: The Procter & Gamble (P&G) company increased organic sales for the April-to-June quarter by three percent, driven by price increases, and partially offset by geographic mix. Net sales were $20.2 billion, a decrease of one percent versus the prior year period. Foreign exchange reduced net sales by four percent. P&G continued to deliver broad-based organic sales growth, with four of five business segments increasing versus the prior year.
Diluted net earnings per share from continuing operations were $0.74, including non-core charges of $0.08 per share. Core net earnings per share were $0.82, consistent with the prior year period and $0.03 per share above the top-end of the company's guidance range. Additionally, P&G completed the sale of the snacks business in the quarter, resulting in a net gain of $0.48 per share.
Mr Bob McDonald, chairman, president and CEO, said that, "We enter fiscal 2013 with very strong developing market momentum, strengthened plans on our core developed market business, and with the benefit of a $10 billion cost savings program, which is well underway. Despite a difficult macro environment, we see significant opportunities for top- and bottom-line growth."