P&G raises forecast after strong Q2 growth | Progresiv
Procter & Gamble has raised its sales forecast for the full year after reporting better-than-expected results for its fiscal second quarter. 
For the three months to 31 December, net profit more than doubled to 7.88 billion dollars (from 3.21 billion dollars), helped by the proceeds of brands it sold off (adjusted profit was up 4%). Sales were nearly flat at 16.9 billion dollars, while they rose by 2% on an organic basis, even as volumes increased by 2% on the same basis.
The group’s Health Care unit performed the best during the period, with organic sales up 7% and volumes growing 4%. The Beauty unit reported a 3% sales increase (volumes +2%), while the Grooming, Fabric & Homecare, and Baby, Feminine & Family Care units all saw sales grow by 1%.
P&G said it now expects full-year sales to grow by 2%-3% on an organic basis, compared to its previous forecast of a 2% rise. In comparison, the group reported a 1% increase in its previous fiscal year. However, it expects overall sales to be impacted to the tune of 2 to 3 percentage points, hurt by currency fluctuations and the downsizing of its portfolio. (www.kamcity.com)
