Proctor & Gamble surpassed consensus expectations
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Manufacturing News, Source : TheManufacturer.com
Published : 13 Aug 2002 21:40
Proctor & Gamble announced that it surpassed consensus expectations for fourth quarter and fiscal year results, and it achieved its long-term annual growth rate targets a year ahead of schedule.
Core net earnings growth in the April through June quarter was driven by operating margin increase of 160 basic points. In addition, core gross margin progress, up 280 basis points, reflects the continued benefits of restructuring projects, ongoing cost efficiency efforts, lower material costs, and volume growth.
“This quarter concludes a strong fiscal year where we achieved long-term growth goals ahead of schedule and laid a solid foundation for future growth,” said A.G. Lafley, PG’s chairman and chief executive. “Our business results continue to be strong behind our focused strategies of improving consumer value, investing behind core brands, and driving cost savings to the bottom line.”
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