Kimberly-Clark reports improved Q2 sales and earnings
29 July 2010 00:00 in Medical Company Financials
Kimberly-Clark has published its latest quarterly financial report, hailing its "solid" performance after achieving year-on-year sales and earnings increases.
The firm's sales total for the second quarter of 2010 grew by three per cent compared to the same period of last year to $4.9 billion (3.1 billion pounds), while earnings per share were up by 24 per cent.
Personal care and healthcare product sales both saw improvements compared to last year, while the acquisition of new subsidiaries such as I-Flow Corporation also contributed to growth.
The firm also highlighted the success of its company-wide cost reduction initiatives, with the scheme thought to have saved Kimberly-Clark around $105 million in the last quarter.
Kimberly-Clark chairman and chief executive officer Thomas Falk said: "We made progress in a number of areas in the second quarter and through six months we're generally on track with our full-year plan, despite a difficult external environment."
Last month, the company announced the election of experienced McKinsey and Company director emeritus Nancy Karch as the newest member of its board of directors.
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