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P&G Sees Return to Organic Sales Growth in 2Q.

Fiscal year 2010, first quarter outlook revealed.

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By: Jamie Matusow

Editor-in-Chief

While presenting at an institutional investor conference in Boston, The Procter & Gamble Company (P&G) confirmed its fiscal year 2010 and July – September quarter outlook for organic sales growth. The company also stated it expects to return to organic sales growth in the October – December quarter compared to prior year levels, following two quarters of organic sales declines.

“We acted with urgency to protect the structural economics of our business last year, and we are acting with urgency this year to deliver profitable market share growth,” said President and Chief Executive Officer Bob McDonald.

Chief Financial Officer Jon Moeller added, “We clearly see that we are approaching an inflection point in P&G’s organic sales trends. The innovations we are launching and the investments we are making are having an impact in the market. In addition, comparisons to prior year results will get easier as we move into the second quarter.”

For fiscal year 2010, P&G confirmed previous guidance for organic sales growth of 1-3%. The company said it expects net sales in the range of flat to up 3% versus prior year levels.

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