Correspondent, Consumer Products & Retail
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Oct 25, 2013

Procter & Gamble sticks by forecasts; profit meets expectations

By Jessica Wohl

(Reuters) – Procter & Gamble Co (PG.N: Quote, Profile, Research) is chugging along with its turnaround, posting a quarterly profit that met Wall Street’s expectations and holding to its annual forecasts as the world’s largest household products maker gets a lift from cost cuts and a lower tax rate.

Shares of P&G slipped 0.5 percent to $80.20 in premarket trading on Friday.

The maker of Pampers diapers and Tide detergent is trying to reinvigorate itself under Chief Executive A.G. Lafley, who returned in late May to replace Bob McDonald.

Oct 25, 2013
Oct 25, 2013

Procter & Gamble profit meets expectations

Oct 25 (Reuters) – Procter & Gamble Co’s quarterly
profit met Wall Street’s expectations on Friday helped by growth
overseas, cost cuts and a lower tax rate, and the world’s
largest household products maker maintained its financial
forecasts for the year.

Shares of P&G slipped 0.8 percent to $80 in premarket
trading.

The maker of Pampers diapers and Tide detergent said it
still expected 5 percent to 7 percent growth in earnings per
share this fiscal year, excluding restructuring charges. The
company abandoned quarterly forecasts earlier this year.