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Procter & Gamble maintains profit target | message

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CINCINNATI (dpa-AFX) – The US consumer goods group Procter & Gamble (ProcterGamble) continues to expect sales and profit growth in the corona crisis. “The strong results we delivered this quarter show that our products play an integral role in meeting customers’ daily health, hygiene, and cleaning needs,” said CEO David Taylor on Friday. The share temporarily rose by a good two percent.

The manufacturer of well-known brands such as Braun, Pampers or Ariel is currently struggling less with demand problems, but much more with unfavorable currency effects. The management therefore lowered the range for the prospective sales growth this year (until the end of June) from previously four to five percent to now three to four percent. Core earnings per share, adjusted for special effects, should continue to grow by eight to eleven percent.

In the United States and parts of Europe in particular, demand in the course of the corona pandemic increased significantly in the third quarter, the competitor from Henkel (Henkel vz) and Beiersdorf said. Against the background, sales rose by a total of six percent. In some Asian countries, however, sales volume declined because it had been difficult for customers there to get into the shops at all.

Group-wide sales increased five percent to $ 17.2 billion. Core earnings per share, adjusted for special items, exceeded expectations by 10 percent to $ 1.17. Total bottom line profit increased six percent to $ 2.9 billion ./kro/jha/



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