(AOF) – Procter & Gamble rose 3.51% to 156.15 dollars. The American group of hygiene and care products has unveiled a net profit, up 1%, to 3.4 billion dollars. In its third quarter of its staggered financial year, the group which markets, among other things, Gillette razors, Pampers nappies or Ariel detergent, generated sales up 4% over one year, to 20, 1 billion euros, an amount higher than forecast. This growth was supported by higher prices, which compensated for lower volumes.
Internal growth amounted to 7%.
Procter & Gamble’s adjusted EPS rose 3% to $1.37, with the market targeting $1.32.
On the outlook side, the Cincinatti-based firm has revised its annual sales forecast upwards, now anticipating an increase in turnover of around 1% this year, against “-1% to stable” previously announced.
Organic growth should reach +6% over one year, against 4 to 5% previously announced.
“We’re seeing consumers being a little more cautious about dosing and reducing inventory over time. We don’t expect them to stock up like they have during the pandemic,” management informed.
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