P&G lifts sales forecast as price hikes continue
Financial Express Mumbai|January 20, 2022
PROCTER & GAMBLE bumped up its annual sales forecast on Wednesday, as the consumer goods giant benefits from higher prices and resurgent cleaning products demand amid a spike in Covid-19 infections.

The company's shares rose nearly 2% in premarket trading as strong quarterly sales helped cushion the blow from a bigger-than-previously forecast increase in annual freight and commodity costs.

Sales of fabric & home care products, including Tide and Mr. Clean, rose 7% in the second quarter, as the rapid spread of the Omicron coronavirus variant led consumers to buy more cleaning products.

A more intense flu season also drove organic demand for personal health care products up 20%.

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