Organic sales, which exclude the impact of acquisitions, divestitures and foreign exchange, grew 4% for the quarter and 3% for the fiscal year. Unit volume accelerated throughout the fiscal year and was up 8% in the fourth quarter driven by growth in all business segments, regions and key countries.
The company grew global market share for the quarter, with all regions holding or growing share.
Diluted net earnings per share were $0.71 for the fourth quarter and $4.11 for the fiscal year, near the top end of the company’s guidance range of $4.06 to $4.12. Diluted net earnings per share from continuing operations increased 4% in fiscal 2010 to $3.53. Core EPS, which represents diluted net earnings per share from continuing operations excluding certain items, was up 6% to $3.67 for the fiscal year driven by sales growth and operating margin expansion. The company generated record adjusted free cash flow of $14bn in fiscal 2010.
“We’re executing on all three dimensions of our growth strategy, touching and improving more consumers’ lives, in more parts of the world, more completely,” said chairman of the board, president and CEO Bob McDonald. “Our results in fiscal 2010 were ahead of our original expectations, and we’re pleased with the trend of the business. The investments we’ve made in innovation, marketing support and consumer value have delivered accelerating unit volume and profitable market share growth throughout the year, which are clear indications that our strategy is working.”
Source: Procter & Gamble
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