Procter & Gamble is still seeing some gains despite a decline in consumer sentiment, according to the new chief financial officer of the company.
“We grew organically – two percent – importantly maintaining or growing organic sales at each of our six operating segments," said Jon Moeller in a Friday interview on CNBC. (See his full comments in the video)
Nevertheless, the decline in demand is taking a toll.
Procter & Gamble earned $1.58 a share in the second quarter of 2008, versus December guidance of $1.58 to 1.63. Full year 2009 guidance of $4.20 to $4.35 was slightly below prior guidance of $4.28-4.38 and about in-line with analyst expectations of $4.29. (Read more about its earnings here).