P&G raises FY forecast

23 October, 2019 12:00 AM printer

NEW YORK: Procter & Gamble Co on Tuesday raised its full-year sales and profit forecasts after a better-than-expected first quarter, powered by demand for its premium beauty brands such as SK-II and China Olay.

The world’s no.1 personal care products maker forecast full-year core earnings growth in the range of 5per cent to 10per cent, compared with its prior estimate of 4per cent to 9per cent growth, report agencies.

P&G expects full-year sales to grow as much as 5per cent, compared to earlier expectation of 4per cent. The company retained the lower end of 3per cent growth.

Organic sales, which excludes acquisitions, divestitures and currency effects, rose 7per cent in the first quarter.