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.
Procter & Gamble Posts Double-Digit Growth
Published November 15, 2005
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