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Home Industry News Procter and Gamble ‘to accelerate innovation investment in 2010’

Procter and Gamble ‘to accelerate innovation investment in 2010’

7th August 2009

Procter & Gamble intends to accelerate the speed at which it invests in innovation in 2010, its chief executive has asserted.

Bob McDonald made his comments as the company published its financial results for the year ended June 30th.

The company reported diluted net earnings per share of $4.26 (2.54 pounds), which represents an increase of 17 per cent over the previous year and exceeds the company’s guidance range for the period, which was $4.20 to $4.25.

Mr McDonald said: “In fiscal 2010, we will accelerate investments in innovation, portfolio expansion and consumer value to grow our core business and to serve more consumers in both developed and developing markets.”

He noted that the company will also leverage its scale to lower costs, improve execution and augment productivity.

Last month, Procter & Gamble’s board of directors declared a quarterly dividend of 44 cents per share of common stock and series A and series B ESOP convertible class A preferred stock.

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