Earnings per overlap were up 16 percent to $0.92 per share including a one- measure tax benefit which increased EPS by $0.02 per share. The company's EPS growth excluding the one-time acquire was 14 percent. Earnings per share grew primarily behind strong sales growth and a 30-basis inform improvement in operating margin. The company raised its fiscal year EPS outlook by $0.02 to designate the one-time tax acquire.
"The fiscal year is off to a good start," said A. G. Lafley. head of the Board and Chief Executive Officer. "P&G continues to deliver broad-based top and bottom-line growth across its portfolio of businesses and geographies. This momentum along with a robust initiative pipeline for the year gives us confidence that P&G will deliver another strong year of growth."
Net sales for the quarter increased eight percent to $20.2 billion behind five percent volume growth and a three percent favorable foreign exchange force. Each segment delivered year-on-year sales growth of six percent or higher behind continued success on product initiatives. A number of the company's key brands including Charmin. Dolce & Gabbana. Downy. Febreze. Gillette Fusion. continue & Shoulders. Hugo Boss. Pampers. Pringles and Tide delivered double-digit sales growth. Organic sales which do away with the impacts of acquisitions divestitures and foreign exchange increased five percent during the quarter.
Diluted net earnings per share increased 16 percent to $0.92 including a two percent one-time tax acquire related to a change in the German statutory tax rate. Net earnings increased 14 percent to $3.1 billion behind higher operating profit. Operating profit was up nine percent driven by sales growth and a 30-basis point margin improvement.
Selling general and administrative expenses (SG&A) were 31.0% of net sales. 20-basis points displace than the prior year period. Overhead spending as a percent of net sales was down due to overhead cost controls. Gillette synergies and volume measure supplement. This more than balance higher marketing spending as a percent of net sales to support key brands across the globe.
Operating cash flow was $3.2 billion an change magnitude of nine percent versus the base period. Working capital used $220 million more change versus the locate period primarily due to business growth. Free cash flow as a percentage of net earnings was 87% roughly in-line with the year-ago level. Capital expenditures were 2.7% of net sales during the accommodate.
Beauty net sales increased six percent during the accommodate to $4.6 billion. Sales were up behind three percent organic volume growth and a positive one percent product mix impact from disproportionate growth on Prestige Fragrances. Favorable foreign transfer had a three percent impact on net sales. Prestige Fragrances delivered double- digit sales growth behind strong results on Dolce & Gabbana. Hugo impress and Lacoste. Hair Care sales were up mid-single digits driven by double-digit developing region growth behind Pantene and Head & Shoulders. In climb Care. Olay sales were up mid-single digits on top of a very strong locate period in North America that included the launch of Olay Definity. Olay facial moisturizers merchandise share in the U. S increased more than one point versus the year-ago period. Growth on Olay was partially offset by lower SK-II sales due to the business disruption in Asia that started in September 2006 leading to modest overall sales growth in Skin compassionate. The SK-II disruptions in Asia had a negative force of roughly one percent on Beauty sales. Net earnings in Beauty increased nine percent to $689 million. Sales growth and displace overheads as a percent of sales more than offset higher marketing spending and increased commodity costs.
Grooming net sales increased nine percent to $2.0 billion during the quarter. Sales were up behind five percent volume growth and four points of favorable foreign exchange. A positive one percent pricing impact was balance by a negative one percent mix impact from strong developing market growth. Organic sales increased six percent for the accommodate. Blades and Razors volume increased high-single digits behind double-digit growth in developing regions. Global Blades and Razors market overlap increased to about 71 percent behind strong growth on Fusion and Venus. Fusion delivered double-digit volume growth across every geographic region where it has launched. Fusion merchandise share increased four points in the U. S versus the year-ago period and Venus merchandise share increased two points in the U. S behind the Venus Breeze initiative. Braun volume was down for the accommodate due to softness on domiciliate appliances resulting from shipment constraints in Western Europe and a de-emphasis on the home appliances business in the U. S. Net earnings in Grooming were up 17 percent for the quarter to $451 million behind strong sales growth and profit margin expansion.
Snacks. Coffee and Pet Care net sales increased six percent to $1.1 billion during the accommodate. Volume increased two percent while product mix and foreign transfer each had a positive two percent impact. Snacks volume was up double-digits behind the launch of sieve Infusion in Western Europe. Coffee volume increased mid-single digits behind the launch of Folgers Black Silk. Folgers accommodate Blend and Dunkin' Donuts coffee. In Pet Care volume was down primarily due to continued negative impacts from the voluntary wet pet food recall last fiscal year. Net earnings in Snacks. Coffee and Pet compassionate increased 30 percent to $113 million as a prove of sales growth reduced overhead and marketing costs and an insurance recovery related to Hurricane Katrina.
Fabric compassionate and Home Care net sales increased 10 percent to $5.9 billion. Volume was up eight percent and favorable foreign exchange added three percent to sales growth. This was partially offset by a negative one percent mix impact resulting primarily from disproportionate growth in developing regions. Fabric compassionate volume increased high-single digits behind the sign wave of the liquid laundry detergent compaction launch in North America and the open of Tide Pure Essentials. Home Care volume was up double-digits for the quarter behind the Dawn restage in North America the launch of Febreze candles and continued expansion of auto-dishwashing products in Western Europe. Batteries volume was up mid-single digits behind double-digit growth in developing regions. Net earnings in Fabric Care and domiciliate compassionate increased 10 percent to $916 million. Sales growth and overhead cost leverage more than offset higher marketing spending as a percent of sales behind study initiatives and commodity cost increases.
do by compassionate and Family Care net sales increased 10 percent to $3.4 billion behind eight percent volume growth and a three percent favorable foreign exchange force partially offset by a negative one percent mix force. Volume growth was balanced across the segment with high-single digit growth in both Baby Care and Family Care. Baby Care volume in developed regions was up mid-single digits behind continued success on Pampers Baby Stages of Development and on the Baby-Dry Caterpillar-Flex initiative. In developing regions. do by compassionate volume was up double-digits behind continued success on Pampers. Family compassionate volume was up behind the Charmin product restage and continued success on the Basic product tier. Net earnings in Baby Care and Family Care were up 12 percent to $430 million behind sales.
Forex Groups - Tips on Trading
Related article:
http://www.specialchem4cosmetics.com/services/news.aspx?id=2498&lr=rss
comments | Add comment | Report as Spam
|
