Arab Today, arab today pg quarterly profit jumps on sale of snacks business
Last Updated : GMT 15:19:10
Arab Today, arab today
Arab Today, arab today

P&G quarterly profit jumps on sale of snacks business

Arab Today, arab today

Arab Today, arab today P&G quarterly profit jumps on sale of snacks business

Washington - AFP

Procter and Gamble, the US consumer-products giant, on Friday posted a sharp rise in earnings for its fiscal fourth quarter, boosted by the sale of its snacks business. P&G said net profit rose 45 percent from the year-ago quarter to $3.6 billion. The sale of its Pringles potato-chip business to The Kellogg Company for $2.7 billion in an all-cash transaction added a net gain of 48 cents per share, P&G said. Excluding one-time items, earnings per share were 82 cents in the April-June quarter, well above the average analyst estimate of 77 cents. Net sales fell 1.0 percent to $20.2 billion, slightly missing expectations of $20.3 billion. P&G, the maker of Gillette razors, Tide laundry detergent, Crest toothpaste and other consumer products, said the decline was primarily due to a negative foreign exchange impact, which reduced sales by four percent. The Cincinnati, Ohio-based company, which has a presence in about 180 countries, has been battling rising commodity costs and a stronger dollar. Sales growth increased in four of the company\'s five business segments compared with a year ago. \"Despite a difficult macro environment, we see significant opportunities for top- and bottom-line growth,\" said chief executive Bob McDonald in a statement. \"We enter fiscal 2013 with very strong developing market momentum, strengthened plans on our core developed market business, and with the benefit of a $10 billion cost-savings program, which is well under way,\" he said. For its first fiscal quarter, from July to September, P&G predicted earnings per share of 83 cents to 91 cents and net sales growth down as much as six percent. \"A major driver of the lower first-quarter EPS outlook is foreign exchange, which is forecast to reduce net earnings by five to six percent versus the prior year,\" it said. The company said it will repurchase $4 billion in P&G stock during the fiscal year. Shares in P&G were up 0.9 percent at $63.51 in pre-market trade in New York.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today pg quarterly profit jumps on sale of snacks business Arab Today, arab today pg quarterly profit jumps on sale of snacks business

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday