Procter and Gamble reports 61 per cent increase in diluted EPS

Procter and Gamble (P&G) has reported a 61 per cent increase in its diluted earnings per share (EPS).

Now standing at $1.58 (1.10 pounds), the figure, which was achieved in the company’s second quarter data, includes a $0.63 gain as a result of the Folgers transaction over the period in question.

The organisation noted its organic sales were up two per cent, however net sales were three per cent lower than the $20.4 billion managed a year previously.

Chief executive officer AG Lafley said the quarter was, as expected, “challenging”.

He added: “Despite this, we grew organic sales two per cent and delivered against our going in EPS guidance.”

“We expect the environment will remain difficult and highly volatile – at least in the near term.”

Earlier this month, P&G’s board of directors announced the organisation’s quarterly dividend was $0.40 per share on its common stock.

The executives added the sum is payable either on or after February 17th.