The Procter & Gamble Company (NYSE: PG) announced second quarter diluted net earnings from continuing operations of $1.11 per share, an increase of 10 percent. Core EPS was up three percent to $1.13 per share, $0.02 per share above the top end of the company’s guidance range. Net sales increased two percent to $21.3 billion driven by six percent volume growth which was partially offset by unfavourable foreign exchange and mix impacts. Organic sales grew three percent.
The company continued to deliver broad-based volume and market share growth. Volume was up six percent behind growth in all major geographic regions, 16 of 17 top countries, five of six business segments and 19 of 23 billion-dollar brands. Market share was up in all geographic regions and the majority of key countries and brands. Businesses representing about 60 percent of net sales maintained or grew market share.
“We are expanding market shares by touching and improving the lives of more consumers in more parts of the world, more completely through our innovation and expansion plans,” said Chairman of the Board, President and Chief Executive Officer Bob McDonald. “This is driving strong volume and sales growth ahead of market levels. Core EPS is ahead of year-ago levels, and we are on track to deliver seven to nine percent growth for the year.”
Source: Worldpress Online