Procter Gamble, the world’s biggest consumer products company, reported quarterly sales exceeding Wall Street’s expectations yesterday due to price cuts and strong marketing.
Bob McDonald, PG’s chief executive, said that while the global economy remained uncertain, the company was successfully using its size to reduce the cost of its products.
“We are pleased with the top- and bottom-line underlying results for the quarter,” Mr McDonald said, noting the company’s investment in expanding its portfolio and in marketing.
During its second fiscal quarter, overall sales rose by 6 per cent to $21 billion, fuelled by a 10 per cent jump in its baby and family care products.
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