US FMCG giant Procter & Gamble on Thursday said net profits increased 11 percent from USD2.56 billion to USD2.87b for the third quarter ended on 31 March.
Net sales increased 5 percent to USD20.2b compare with the same period of 2010, driven by 5 percent volume growth, as well as favourable pricing and foreign exchange, partially offset by geographic and product mix. Organic sales grew 4 percent.
Operating cash flow was USD4.1b for the quarter, while free cash flow, which is operating cash flow less capital spending, was USD3.2b and 113 percent of net earnings.
"The growth fundamentals of our business are strong," said chairman of the board, president and CEO Bob McDonald. "We delivered broad-based volume, sales, and market share growth, and grew earnings per share (EPS) in a very difficult operating environment. We increased our dividend for the 55th consecutive year, by 9 percent."
The world’s largest consumer products maker estimates its fourth quarter net sales will grow 8-10 percent. Organic sales are expected to grow 4 to 6 percent, reflecting solid volume growth and improving pricing trends. Foreign exchange is expected to add about four percent to net sales growth.