The Procter and Gamble Mason Business Center's presence in Southern Warren County is one the economic lynch pins of the area. The Enquirer/Craig Ruttle
Business segments headquartered at Procter & Gamble’s Mason Business Center are listed among corporate divisions that helped the company beat its profit expectations.
Cincinnati-based P&G announced 4 percent sales growth on Friday for its fiscal second quarter to $22.1 billion.
Core net earnings per share decreased 3 percent to $1.10. The company said higher commodity costs offset sales growth and cost-savings measures. Analysts surveyed by Reuters expected $1.08 per share.
Diluted net earnings per share were 57 cents per share, down 49 percent primarily due to non-core charges of 53 cents per share. The non-core charges included a one-time 50 cents per share non-cash impairment charge associated with the appliances and salon professional businesses.
“We continue to make progress against our key business priorities in a difficult macroeconomic environment,” said Bob McDonald, P&G’s chairman and chief executive officer in a statement.
“We delivered solid top-line growth and continued to accelerate productivity improvements to drive down costs. With the easing of commodity cost comparisons over the next two quarters, continued solid top-line growth and cost savings progress, we expect operating profit growth to accelerate in the second half of the fiscal year.”
Among P&G’s business segments:
- Beauty net sales increased 1 percent to $5.4 billion.
- Grooming net sales increased 1 percent to $2.2 billion.
- Health care net sales and organic sales increased 1 percent to $3.2 billion.
- Snacks and pet care net sales and organic sales increased 3 percent to $824 million.
- Fabric care and home care net sales and organic sales increased 5 percent to $6.6 billion.
- Baby care and family care net sales and organic sales increased 6 percent to $4.2 billion.
P&G’s Mason Business Center includes its pet care, pharmaceuticals and personal- and oral-care businesses.
The company said net sales are expected to increase 3-4 percent in fiscal 2012 and expects its core earnings per share at between $4 and $4.10. Organic sales are expected to increase 4-5 percent.
“Those numbers are slightly lower than our previous guidance, reflecting primarily foreign currencies,” chief financial officer Jon Moeller said in an interview with CNBC.
“Particularly emerging market currencies, whether it’s the Turkish lira or the Brazilian real, were weaker than we expected,”
For the fiscal third quarter, diluted net earnings per share are expected to be in the range of 81-87 cents per share, and core earnings per share in the range of 91-97 cents per share.
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