Procter & Gamble forecasts return to organic growth

FMCG

Staff

September 10, 2009

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Procter & Gamble forecasts return to organic growth

CINCINNATI - Procter & Gamble told investors at a meeting in Boston that it expects to return to organic sales growth in the October - December quarter compared to prior year levels, following two quarters of organic sales declines.

Chief Financial Officer Jon Moeller said. ‘We clearly see that we are approaching an inflection point in P&G's organic sales trends. The innovations we are launching and the investments we are making are having an impact in the market.'

For the most recent July - September quarter, P&G confirmed expectations for organic sales growth of zero to negative three percent.

For the October - December quarter, P&G said it expects organic sales growth of one to four percent.

For fiscal year 2010, P&G confirmed previous guidance for organic sales growth of one to three percent. The Company said it expects net sales in the range of flat to up three percent versus prior year levels, which includes a foreign exchange impact of zero to minus one percent.

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