P&G predicts 2010 organic growth

Graduate employer Procter & Gamble has predicted organic sales growth for 2010.

As part of the corporation's fiscal updates and first quarter outlook for next year, it confirmed previous expectations of a net sales increase of 1-3%.

Furthermore, it said its share earnings would stand between $3.99 (£2.39) and $4.12 per stake, which includes a one-time net rise of $0.44 per item as a result of the acquisition of its pharmaceutical business.

Chief Financial Officer Jon Moeller explained the firm is approaching an inflection point in terms of its organic sales trends.

He said: 'The innovations we are launching and the investments we are making are having an impact in the market.

'In addition, comparisons to prior year results will get easier as we move into the second quarter.'

Earlier this year, the company announced that net earnings per share for the fiscal year ending in June stood at $4.26 per stake, representing an increase of 17% and exceeding the firm's previous guidance range of $4.20 and $4.25.