P&G sales, profit beat estimates on higher prices | Progresiv
Procter & Gamble Co's quarterly revenue and profit beat Wall Street estimates, boosted by higher prices and more demand for its premium fabric care and beauty products. 
Like other consumer goods makers, P&G has been raising prices on several products including baby and feminine care products.
For the third quarter, P&G posted a 5% rise in organic sales, a keenly watched metric that excludes the impact of acquisitions, divestitures and currency effects. Price hikes contributed 2 percentage points to the organic sales growth, the company said.
Organic sales in the company's fabric and home care business, the biggest contributor to total sales, rose 7%, boosted by its premium products.
The beauty business saw a 9% rise in organic sales, helped by the premium SK-II brand.
The producer of Tide detergent and Pampers diapers said net income attributable to the company rose to 2.4 billion euros in the quarter ended 31 March, from 2.2 billion euros a year earlier.
Net sales rose by 1.1%, to 14.6 billion euros. (www.esmmagazine.com)
