The world’s biggest household product manufacturer, Procter & Gamble has passed through a tough third quarter having some more bad news. It has lessened its quarterly earnings direction together with revenue forecasts amid lately lackluster market share growth of the company.
P&G’s April-June 2012 quarter showed lower than expected sales growth, which is predicted in the range of two to three percent at present instead of the earlier predicted to be in the range of four to five percent.
In order to settle the dust amid increasingly worried analysts and investors, CEO of Procter & Gamble, Bob McDonald yesterday tried to revealed details about future plans. He said that in order to accomplish more balanced growth and to enhance concentration on core business, the company is making necessary adjustments.
The company will try hard to enhance market share by the end of 2013, and will reveal upgrades for the complete year once 2012′s results are announced in August. The current stock price of Procter & Gamble is around $60. According to Deutsche Bank, it is still safe to buy at $70 price target. Analysts say that P&G has been underperforming competitors like Colgate-Palmolive and Unilever.Previous Post » Stocks Drift As We Move Into Summer