P&G Q3 EPS up 5%
Beauty segment sales growth spurred by innovation in hair care, deodorants and personal cleansing
Procter & Gamble Company (P&G) reported third quarter fiscal year 2014 core earnings per share of $1.04, an increase of 5% versus the prior year.
Chairman, President and CEO AG Lafley said: “We’re operating in a slow-growth, highly competitive environment, which places even greater importance on strong innovation and productivity improvement. We’re delivering meaningful product innovations that are attracting more consumers to our brands. We’re making good progress on our productivity plans, with cost savings and enrollment reductions ahead of going-in targets for the year. We’re confident that the cumulative benefits from these innovations and productivity improvements will lead, over time, to improved value creation for consumers, customers and shareholders.”
Beauty segment organic sales increased 2% from innovation in hair care, deodorants and personal cleansing. This was partially offset by a sales decrease in the salon professional segment and skin care primarily in Asia.