Procter & Gamble Makes Solid Growth Progress Despite Tough Global Economic Conditions, CEO Says

Procter & Gamble PG made solid, reliable progress in fiscal year 2011 despite significant business and economic challenges, Chairman, President and Chief Executive Officer, Bob McDonald, told the Company's shareholders at its annual meeting today. For the fiscal year that ended on June 30, 2011, P&G delivered organic sales growth of 4 percent and core earnings per share growth of 8 percent, and increased the quarterly dividend by 9 percent. P&G's innovation and expansion programs drove market share growth in businesses representing approximately 60 percent of global sales and four of the Company's five geographic regions. This growth was delivered despite nearly $2 billion in commodity and energy cost increases, little-to-no market growth in developed markets, political instability in the Middle East and North Africa, as well as the tragic earthquake and tsunami in Japan, shareholders at the Aronoff Center in Cincinnati were told.