USA: P&G sees double-digit growth in Q3
Cincinnati-based consumer goods giant P&G delivered double-digit volume and core earnings per share growth for the January-March quarter, ended 31 March, exceeding Wall Street consensus estimates. For the Q3, unit volume grew 10% versus the prior year behind double-digit growth in the health care and beauty care businesses and strong progress in fabric and home care. Excluding acquisitions and divestitures, unit volumes increased 6%. Reported net sales were US$9.9bn, up 7% versus the year-ago period excluding a 3% negative foreign exchange impact, as pricing and mix effects partially offset volume growth.
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