The Procter & Gamble Company, Cincinnati, OH, announced sales and earnings growth were above long-term targets in the third quarter. Unit volume grew 20% and net sales increased 22%, including 5% from favorable foreign exchange. Net earnings increased 20% to $1.53 billion due to strong volume and continued gross margin improvement, which funded increased marketing investments, executives said. Diluted net earnings per share increased 20% to $1.09 and earnings per share increased 14%.
Net sales growth included a positive foreign exchange impact of 4% driven by continued strength of the euro, British pound and Canadian dollar.
The latest exclusive market research from Smithers Pira projects positive growth for the across the nonwoven wipes industry. This market can be subdivided into two major types:
Consumer wipes include b…