Corona profiteer: P&G has achieved the strongest sales increase in the USA for decades – share gains | message
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With coronavirus growing, Americans’ high demand for key household products, from laundry detergents to cough medicine, has seen growth grow faster than it has in decades. The bottom line, the group also earned more than expected on the market.
As Procter & Gamble Co announced, sales climbed 5 percent in the three months to $ 17.2 billion. While sales rose 10 percent in the United States, sales fell 8 percent in China, where many factories and businesses were closed.
Net income climbed to $ 2.92 billion from $ 2.75 billion, or $ 1.12 (previous year: 1.04) per share. Adjusted earnings per share increased to $ 1.17, further exceeding analyst estimates of $ 1.12 per share.
P&G confirmed the outlook for earnings per share and organic sales growth for the year as a whole: organic earnings should increase by 4 to 5 percent as planned. Due to negative currency effects, however, the sales increase should only be 3 to 4 percent – the Group had previously also calculated this with 4 to 5 percent.
On the NYSE, P&G stock is currently up 1.06 percent to $ 122.777.
NEW YORK (Dow Jones)
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