(Reuters)-
P & G (PG. N)
As it improves, the published quarterly profit is in line with Wall Street's expectations and in line with its annual forecast, as the world's largest home-product maker has gained gains from cost cuts and lower tax rates.
P & G shares fell nearly 1% to $79.
Friday morning trading 93.
Manufacturers of Pampers diapers and Chao detergent are trying to revive themselves under ceo. G.
Lafite, who will be back later, may take over Bob McDonald.
Lei Fuli, who did not speak at the company's conference call on Friday, previously said that the current fiscal 2014 will be a "transitional" year, after the "stepping stone" that ended in June.
He has divided P & G into four companies and hopes the new structure will be more efficient.
"We continue to think that the appointment of Lafite is more of a temporary nature until a permanent successor can be appointed," said Chenxing analyst Erin Lash . ".
She said P & G's decision to get refuli to attend only certain phone calls and major industry meetings was "a bit confusing" as the company was working to "instill confidence and rekindle momentum ".
P & G said that excluding restructuring costs, earnings per share are expected to increase by 5% to 7% this fiscal year.
The company abandoned its quarterly forecast earlier this year.
The company still expects organic sales to grow by 3% to 4% this fiscal year, which will eliminate the impact of exchange rate changes, acquisitions and divestiture.
P & G spokesman Paul Fox said on the absence of refuli by telephone: "This change reflects our focus on the annual results and trends, not on the quarterly results, this is in line with our recent shift to financial guidance.
P & G holds or increases market share in businesses representing the two companies
Chief Financial Officer Jon Merle said the company's sales reached 30 this quarter.
While he said he was "quite satisfied" with the results, he added: "We just need to perform better, more consistent and more reliable.
P & G competes with companies such as Unilever Plc. ULVR. L)(UNc. AS).
Unilever's results on Thursday showed its North American market share
Due to P & G's promotional activities on hair care products such as panting shampoo, the profit margin personal care business is affected.
Moeller, however, refutes the claim that P & G's hair care product promotion has declined compared to the same period last year.
The company has a flat market share in that category. Colgate-Palmolive Co (CL. N)
More promotions were also discussedS.
When the results were released on Thursday, the market.
"We saw a different reality," Molle told reporters . "
"Promotions are important and we will be competitive in promotions, but this is not the area where we seek leadership.
Moeller said: "In general, in North America, P & G's share of the number of goods sold in promotional activities is down 7% from a year ago.
P & G said it made $3.
3 billion, or $1.
For the first quarter ended September 30, $04 per share, up from $2.
81 billion a year ago, or 96 cents a share.
Core earnings per share excluding restructuring costs fell 1% to $1.
According to Thomson Reuters I/B/E/S, 05 and met analysts' expectationsSales rose 2.
$ 2% to $21.
21 billion, more than the $21 Wall Street forecast. 04 billion.
Sales of organic products increased by 4%.
This sales has increased in each category, except for health care, in part because of pet food recalls.
Analysts said the beauty business was disappointing and organic sales grew by only 1%.
P & G blamed factors such as declining sales of skincare products for slow growth.
John Faucher, an analyst at JPMorgan Chase, said he expects organic sales in the beauty department to grow by 3%.
