Procter & Gamble Profit Up 6% But Its Forecast Disappoints
The multinational consumer goods company, Procter & Gamble (P&G) revealed a 6% increase in profit recently. They were able to do this by cutting costs and other improvements in North America. This company has been trying to expand in countries such as China and India, but results fell short of expectations. They focused their resources on promoting popular products that would attract the general public. However, this came with a cost because they lost market share during the process. Currently, they are trying to cut costs from other divisions to further promote new products. P&G’s fourth-quarter profit has also been lower than Wall Street’s expectation due to instability within the market.
The increase in profit reflects an improving economy and various expanding markets. The company claims that the market is “choppy” because of inconsistent results. Although P&G was unsuccessful when expanding into emerging markets, it is still possible for them to promote products that do not have mixed reviews.
Written By: Constantine Kostikas
Source: New York Times