Procter&Gamble has reported earnings of 1.02 a share,versus an estimate of 1.00;and revenue of 20.1 billion dollars,versus an estimate of 20.24.Free cash flow was 1.9 billion dollars.The company repurchased 3 billion dollars of its shares to support the stock.
Organic sales were up 4%,while volume rose 8%.Fiscal year 2011 organic sales are projected to rise 4-11%.
Jan Moeller,Chief Financial Officer of the company,says the U.S. economy is choppy,but as long as they continue to innovate,they'll be able to price appropriately.They build their business plans to achieve organically.Acquisitions are on top of that.
A Sunday newspaper circular highlighted a number of new Procter&Gamble products.CNBC's Jim Cramer recently praised the firm and its CEO,Bob MacDonald.
Procter&Gamble(PG)
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