UPDATE 1-Procter & Gamble tops view, sees stronger sales

* Q2 EPS $1.49 tops Wall St view $1.42

* Sales up 6.4 pct to $21.03 bln, volume up 5 pct

* Raises sales expectations for the year

* Shares up 0.3 pct

CHICAGO, Jan 28 (BestGrowthStock) – Procter & Gamble Co (PG.N: )
posted a better-than-expected profit, as promotional price cuts
and increased advertising helped bring more shoppers back to
its brands. It added that sales should rise more than expected
this year.

The world’s largest household products maker has been
working to attract shoppers who had shunned its name brands
such as Pampers diapers and Bounty paper towels for cheaper
store versions as the recession took hold.

Profit was $4.66 billion, or $1.49 per share, in the fiscal
second quarter ended Dec. 31, down from $5 billion, or $1.58
per share, a year earlier. Analysts, on average, expected P&G
to earn $1.42 per share, according to Thomson Reuters I/B/E/S.

Shares of P&G were up 19 cents to $61 in premarket trade.

Sales rose 6.4 percent to $21.03 billion, while the volume
of goods sold rose 5 percent. Organic sales, which exclude the
impact of currency fluctuations, acquisitions and divestitures,
also rose 5 percent.

P&G still expects to earn $4.02 to $4.12 per share in the
current fiscal year, which ends in June. It now expects organic
sales to rise 3 to 5 percent this year, up from its prior
forecast of 2 to 4 percent.

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(Reporting by Jessica Wohl; Editing by Derek Caney)

UPDATE 1-Procter & Gamble tops view, sees stronger sales