By Iain Gilbert
Date: Wednesday 23 Jan 2019
LONDON (ShareCast) - (Sharecast News) - Consumer goods giant Procter & Gamble has upped its full-year guidance on the back of strong sales of products ranging from skin cream to fabric softener in its last trading quarter.
P&G turned in a 4% increase in organic revenues in the second quarter, leading the Cincinnati-based group to raise its organic sales guidance between 2% to 4% for 2019.
Chairman David Taylor said efforts to turn the company around after seeing an increased level of competition from smaller rivals had begun to bear fruit.
Taylor said P&G was still capable of producing "strong results" despite a "challenging competitive and macroeconomic environment".
Beauty product sales were up 8% year-on-year on an organic basis, while healthcare products climbed 5%. However, grooming sales slipped 3%.
The Nasdaq constituent saw net income rise 26% to $3.21bn, while diluted net earnings per share soared 31% to $1.22.
As of 1440 GMT, P&G shares had climbed 5.87% to $95.74 each.
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Currency | US Dollars |
Share Price | $ 165.18 |
Change Today | $ -0.98 |
% Change | -0.59 % |
52 Week High | $177.79 |
52 Week Low | $143.91 |
Volume | 6,055,078 |
Shares Issued | 4,009.20m |
Market Cap | $662,240m |
RiskGrade | 76 |
Strong Buy | 7 |
Buy | 10 |
Neutral | 7 |
Sell | 1 |
Strong Sell | 0 |
Total | 25 |
Time | Volume / Share Price |
16:00 | 1,489,458 @ $165.18 |
15:59 | 100 @ $165.18 |
15:59 | 100 @ $165.17 |
15:59 | 116 @ $165.16 |
15:59 | 100 @ $165.16 |
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