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P&G reports 4% drop in net sales

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

Procter & Gamble reported second quarter fiscal year 2015 core earnings per share of $1.06 versus $1.15 the prior year. On a currency-neutral basis, core earnings per share increased 6%. Diluted net earnings per share were 82 cents including non-core items which reduced diluted EPS by 24 cents per share. Organic sales grew 2% for the quarter. Reported net sales were $20.2 billion, a 4% decrease versus the prior year, including a negative five percentage point impact from foreign exchange.

Baby, feminine and family care segment organic sales increased 4% behind pricing and innovation in baby care and feminine care, partially offset by lower sales in family care due to a soft period in Mexico and consumer value interventions in the U.S.

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