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P&G Announces Sales, Earnings



Published February 28, 2011
Related Searches: P&G Procter & Gamble
Organic sales growth, which excludes the impact of acquisitions, divestitures and foreign exchange was 3%.

"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 CEO 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 7-9% growth for the year."

Baby care and family care net sales increased 3% to $3.9 billion for the quarter. Organic sales grew 6%.Mix reduced net sales by 2%, driven mainly by disproportionate growth of mid-tier product lines, larger package sizes and developing regions, all of which have lower than segment average selling prices.