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P&G Posts 3Q Results

December 1, 2009

Procter & Gamble reported net sales of $19.8 billion for the July-September quarter, a decrease of 6% that was primarily due to unfavorable foreign exchange impacts as the U.S. dollar remained above prior year levels. Organic sales, which exclude the impacts of acquisitions, divestitures and foreign exchange rose 2%.

In the Baby Care and Family sector, net sales declined 5% in the first fiscal quarter to $3.6 billion. Organic sales grew 1% as the impact of price increases more than offset a 1% volume decline. Price increases, primarily taken in developing regions to offset local currency devaluations, added 2% to net sales. Unfavorable foreign exchange rates reduced net sales by 6%. Baby Care volume increased in the low single digits behind new initiative launches in Western Europe including the expansion of Pampers Simply Dry and market growth in Asia and Western Europe.
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