Procter & Gamble CEO Bob McDonald is expected to earn plaudits tomorrow when the company reports its year-end financial results for the first year of his reign, David Holthaus reports. The company has
introduced more bargain-priced products, streamlined its costs, pushed more vigorously into developing countries such as India and Brazil and pumped up its ad spending behind new products.
"One year is too early to give him an effective grade," says Bahl & Gaynor analyst Matt McCormick. "But I'd give him a more than satisfactory mark."
P&G says last year was "an
investment year," meaning it reinvested profits on product research and development, advertising and marketing. As a result, analysts expect earnings per share of $4.12 for the year, down from $4.26
in fiscal 2009. "When they're out there trying to get market share, it's not free," McCormack points out.
advertisement
advertisement
Read the whole story at Cincinnati Enquirer »