Three of the world's largest consumer goods groups – Procter & Gamble, Unilever and Colgate-Palmolive – yesterday reported robust sales, led by strong demand in emerging markets in Asia and Latin America.
Jon Moeller, P&G chief financial officer, said his group had seen double-digit growth in shipments in China, Saudi Arabia, India and Brazil. Turkey shipments grew more than 60 per cent, after falling last year as P&G struggled to adjust its pricing to the global downturn. “While we expected emerging markets to rebound, we didn't expect markets like Turkey to recover so quickly,” he said.
P&G, whose products include Tide detergent, Olay cosmetics and Pampers baby products, reported a 7 per cent volume increase in its organic sales.
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