Procter and Gamble sees fourth quarter growth

Procter and Gamble has announced financial results for the fourth quarter of its financial year for 2010/11, during which it saw a ten percent year-on-year net sales increase.

The multinational consumer products company generated $20.9 billion (12.8 billion pounds), contributing to an $82.6 billion total for the 12 months that was five percent ahead of 2009/10.

During the April to June quarter, the company saw growth across major divisions such as beauty, healthcare and fabric care and home care, with strong top and bottom-line performance recorded.

As such, the firm now expects to achieve sales growth of between five and nine percent for the coming fiscal year.

Procter and Gamble's chairman of the board, president and chief executive officer Bob McDonald, said its strong results in the last year were "driven by our ongoing commitment to make a difference in the everyday lives of the world's consumers".

This comes after the firm declared a quarterly dividend of $0.525 last month, continuing a streak of 55 consecutive years of dividend increases.