Procter & Gamble sees fourth-quarter profits fall
August 6, 2009
CINCINNATI — Manufacturing goliath Procter & Gamble Company recently reported that fourth-quarter profits fell 18 percent on an 11 percent sales slump, according to the Miami Herald.
According to the story, this is the first fiscal quarter that Bob McDonald has been the company''s chief executive officer (CEO).
Earnings of nearly $2.5 billion for the three-month period were reported, down from $3 billion in the year-ago quarter, the story stated.
Revenue fell by 11 percent to end up at $18.7 billion, lower than the $19.4 billion analysts had forecasted, the story noted.
Sales decreased across Procter & Gamble''s entire portfolio, but particularly in consumer markets and not those in the JanSan industry, the story added.
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