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Procter & Gamble Q2 profit falls

January 25, 2014

Procter & Gamble Co , the world's largest household products maker, reported lower quarterly profit yesterday, hurt by unfavourable currency movements and lower gross profit margin. The maker of Pampers diapers and Tide detergent left its 2014 sales growth forecast unchanged. It still expects organic sales, which strip out the impact of currency changes as well as acquisitions and divestitures, to rise 3 per cent to 4pc, and core earnings to rise 5pc to 7pc. The company earned $3.43 billion (2.07bn pounds), or $1.18 per share, in the fiscal second quarter ended December 31 , down from $4.06bn , or $1.39 per share, a year earlier. Core earnings per share, excluding restructuring charges, fell 1pc to $1.21 . Analysts expected $1.20 a share. Sales rose 0.5pc to $22.28bn while organic sales rose 3pc. The company's beauty division continued to struggle, with organic sales unchanged as skin care results slipped. P&G's health care segment reported the fastest growth, rising 5pc. P&G's gross profit margin slipped 0.9 percentage points, despite lower manufacturing costs. copyright


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Source: Daily Tribune (Bahrain)


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