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P&G's Q3 2011 Continues Volume and Market Share Growth
Posted: April 28, 2011
P&G's third quarter 2011 net sales increased 5% to $20.2 billion, and organic sales grew 4%. Market share was up in all geographic regions and flat or higher in 14 of the top 17 countries and for 18 of 24 billion-dollar brands.
"The growth fundamentals of our business are strong," said Bob McDonald, chairman of the board, president and CEO, P&G. "We delivered broad-based volume, sales and market share growth, and grew EPS in a very difficult operating environment. We continue to advance our Purpose-inspired growth strategy of improving the lives of more consumers, in more parts of the world, more completely."
Beauty net sales increased 5% to $4.9 billion, on 5% volume growth. Volume in retail hair care grew high single digits behind double-digit growth in developing regions due to initiative activity and distribution expansions in Asia and Latin America. Volume in prestige products was up high single digits behind continued success of fragrance initiatives, partially offset by minor brand divestitures. Net earnings decreased 3% to $547 million, as lower operating margin more than offset the impact of sales growth. Operating margin declined behind increased marketing investments.
Future outlook and a full breakdown of performance by region is available on P&G's investor page.