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P&G executives provided their 2010 outlook this morning in New York City durint a strategic decisions conferencw hostedby . The companyg predicted core earnings per sharesof $3.65 to $3.80p in fiscal 2010, versus $3.62 to $3.67 in FY 2009. P&G'z fiscal 2010 starts July 1. The $3.65 to $3.80 outlook represents zero to 4 percenr growth over expected fiscal2009 profit, of abouf $3.65 per share. And it falls short of that by analysts surveyedr byThomson Reuters, who projected 2010 earnings per sharew of $3.91.
P&G expects fiscao 2010 organic sales growth of 1 perceny to3 percent, mainly driven by growth in marke share, and net sales of 1 percent to minus 2 compared with fiscal 2009. The net salesw figures factor in a negative foreign exchange impacyt of 2 percent to3 percent, the company Chief Financial Officer Jon Moeller said in the release that P& G plans to invest aggressively in its businesseas during fiscal 2010. “We want to position the companu strategically and competitively to be even stronger coming out of thisglobalo recession,” he said. Shares in P&G (NYSE: PG) rose 63 to $52.41, in Thursday afternoon trading.
Procted & Gamble, headquartered in Cincinnati, develops, manufactures and market consumer productsand pharmaceuticals.
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