Procter projected to post improved profits

BizJournals.com, July 29, 2005

Procter & Gamble Co. is expected to post as much as a 14 percent gain in its annual profits, to be reported Aug. 1, thanks in part to its efforts to build its presence in developing countries.
Profits are expected to rise to $2.65 per share, compared with $2.32 per share a year ago, according to analysts surveyed by Thomson Financial. For the fourth quarter, they project a profit of 55 cents per share.

Sales are expected to rise to $14.05 billion in the quarter and $56.5 billion for the year. In 2004, Procter reported annual sales of $51.4 billion.

Procter (NYSE: PG) has been focusing on introducing more products in developing countries, where sales of consumer items are growing twice as fast as in the United States, according to Bloomberg News. In the fourth quarter, for example, it brought Camay soap into Russia.

While Procter estimates it has products in roughly 2.5 billion households, it counts 6 billion homes worldwide, so it sees vast opportunities.