Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Procter&Gamble Co. made a statement, revealing that its profit generated over the third quarter increased by 1.7% from 2.57 billion dollars a year earlier and reached 2.61 billion dollars due to decreasing costs. The company shared that its sales slightly decreased, while core earnings beat analysts forecasts.

As reported by the Financial Times, the companys Chief executive Officer Mr. Lafley said in a statement: “P&G’s [quarterly] results came in as we had expected. This leaves us on track to deliver our top- and bottom-line growth objectives for the fiscal year.”

According to the companys statement, in the quarter ended March 31st, the net sales of Procter&Gamble Co.s healthcare, baby care, grooming and beauty divisions were lower. Only the companys fabric care unit posted increasing net sales, while the companys overall sales amounted to 20.6 billion dollars.

The Chief Executive Officer Lafley has been reported to be successfully reducing costs. Last year he returned to Procter&Gamble Co. and rushed for boosting the companys productivity by cutting its costs. The CEO also bets on manufacturing new products that are supposed to increase the market share and the revenue of the company.

He said in the companys statement, which was cited by Bloomberg: “We’re operating in a slow-growth, highly competitive environment, which places even greater importance on strong innovation and productivity improvement.”

As a part of the new products strategy, P&G plans to release the so-called ProGlide FlexBall, which is a new Gillette razor. The company also announced earlier in April that it had reached an agreement with Mars Inc. over the acquisition of a large part of its pet foods unit in a deal estimated to 2.9 billion dollars. The contract is expected to be sealed in the second half of 2014.

Procter&Gamble Co. was 0.38% down to close at 80.61 dollars per share yesterday, marking a one-year change of -2.34%. According to the information published on CNN Money, the 19 analysts offering 12-month price forecasts for Procter & Gamble Co. have a median target of 89.00, with a high estimate of 97.00 and a low estimate of 76.00. The median estimate represents a +10.41% increase from the last price of 80.61.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • EUR/USD bounced off session lows after mixed US dataEUR/USD bounced off session lows after mixed US data The euro distanced from session lows against the US dollar on Monday, following a report, which showed pending home sales in the United States fell more in September compared to the drop in August, reaching the lowest level since December […]
  • Weekly market wrap-up, Companies to watch In the week 18th – 22nd October stocks hit an all-time hi after the S&P 500 completed a seven-day winning streak, backed up by the earnings release. Factors such as the surrounding troubles with the constantly high “temporary inflation”, the […]
  • Paypal Galactic prepares for space commercePaypal Galactic prepares for space commerce Paypal announced today that company is working on a product to make inter-planetary payments. In other words, a space traveler would be able to pay for things from space.No, that is not another marketing strategy or PR jibber-jabber. […]
  • Commodities trading outlook: WTI hits 27-month low on ample supply, natural gas extends dropCommodities trading outlook: WTI hits 27-month low on ample supply, natural gas extends drop West Texas Intermediate crude fell to a 27-month trough and Brent declined to the lowest since November 2010 as easing global demand growth limited demand at times of ample supply. Natural gas fell for a second day.US November crude traded […]
  • Boeing shares close lower on Friday, debris found in fuel tanks of undelivered 737 MAX aircraftBoeing shares close lower on Friday, debris found in fuel tanks of undelivered 737 MAX aircraft Boeing Co (BA) has discovered debris in the fuel tanks of nearly 35 undelivered 737 MAX planes amid ongoing inspections. According to a report by Reuters, citing a source with knowledge of the matter, debris have been found in nearly 50% […]
  • Forex Market: EUR/USD daily trading forecastForex Market: EUR/USD daily trading forecast Yesterday’s trade saw EUR/USD within the range of 1.1204-1.1333. The pair closed at 1.1319, soaring 0.93% on a daily basis and marking the sharpest rate of increase since August 24th, when it appreciated 2.14%. The daily high has also been the […]