P&G Reports $0.98 EPS, Up 17%, on 9% Sales Growth; Announces Plan to Create Stand-Alone Coff...( CINCINNATI Jan. 31 2008 /- The Pr...),Health

CINCINNATI, Jan. 31, 2008 /PRNewswire-FirstCall/ -- The Procter & Gamble Company (NYSE: PG) announced net sales growth of nine percent to $21.6 billion for the quarter. Sales were up behind strong volume growth from continued success on key product initiatives and double-digit organic growth in developing regions. Organic volume increased six percent and organic sales were up five percent for the quarter. Diluted earnings per share increased 17 percent to $0.98 per share, above the top end of the company's $0.95 to $0.97 per share guidance range. Earnings grew as topline growth and continued Gillette synergy benefits more than offset higher commodity costs.

"This quarter is another demonstration of P&G's capability to deliver strong results in a difficult competitive and commodity cost environment," said A.G. Lafley, Chairman of the Board and Chief Executive Officer. "Solid topline growth and a sharp focus on cost control are driving strong profit and cash generation. Looking ahead, we are confident that the strength of the company's brand portfolio, initiative pipeline and productivity program will enable P&G to continue delivering at or ahead of its targets."

Executive Summary

-- Net sales increased nine percent to $21.6 billion behind six percent

organic volume growth. Every geographic region posted year-on-year

organic volume growth, led by double-digit growth in developing

regions.

-- Net Earnings grew 14 percent to $3.3 billion primarily behind the

combination of sales growth and overhead cost savings, which more than

offset the impact of higher commodity costs. Earnings per share

increased 17 percent to $0.98 for the quarter.

-- Operatin
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