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lunes, 19 de agosto de 2013

Procter & Gamble profit falls, but sales rise

Procter & Gamble Co.'s fiscal fourth-quarter earnings fell 48% amid restructuring and other charges, while the world's largest consumer-products company's sales and unit volume improved
P&G is rapidly cutting costs and eliminating jobs over the next couple of years to help fund the development and introduction of new products, ranging from unit-dose Tide Pods laundry detergent to thicker Bounty paper towels
The efforts have helped lift P&G's profit in recent quarters, but the underperformance of some segments, like its beauty business, continues to challenge its sales growth
For the quarter ended June 30, P&G reported a profit of $1.88 billion, or 64 cents a share, down from $3.63 billion, or $1.24 a share, a year earlier
Excluding items such as charges for legal matters, impairment and restructuring, core earnings fell to 79 cents from 82 cents
Sales increased 2.2% to $20.66 billion
Organic sales, which strip out currency movements and the impact of acquisitions and divestitures, rose 4%
Unit volume was up 5%
In April, the company forecast core earnings of 69 cents to 77 cents a share on organic sales growth of 3% to 4%
Gross margin shrank to 47.5% from 48.1%.
P&G also expects fiscal 2014 per-share earnings to rise 5% to 7% on a sales increase of 1% to 2% and organic sales growth of 3% to 4%
Analysts surveyed by Thomson Reuters expect per-share and revenue increases of 7% and 3%, respectively
 

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