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rdf:type	schema:NewsArticle
schema:articleBody	Pandemic-driven demand for cleaning products drove better-than-expected earnings by US giant Procter & Gamble in the latest quarter, the company reported Tuesday. The consumer products giant said sales of disinfectants and detergents jumped 30 percent in the first quarter of its fiscal year, with the division that includes toilet paper and paper towels seeing double-digit growth in every region. The gain "was driven by the disproportionate growth of premium home, health and hygiene products and the North American business, driven in part by pandemic-related consumption," the company said in a statement. The only soft spot linked to the pandemic was men's razors, and the company boosted expected earnings for the year. The conglomerate that sells brands like Mr. Clean, Dawn, Gillette, Oral-B and Pampers saw total sales increase by 9 percent to $19.3 billion compared to the July-September quarter of 2019, well above the $18.3 billion analysts had forecast. "Our near-term priorities continue to be employee health and safety, maximizing availability of P&G products for consumers around the world and helping society meet the challenges of the COVID crisis," P&G chief David Taylor said in the statement. The company's profit rose 19 percent to $4.28 billion, while earnings per share (EPS) -- a key benchmark for Wall Street -- jumped 20 percent to $1.63 dollars, well above the expected $1.41 dollars. Given the strong first quarter results, P&G raised its forecasts for its entire fiscal year, now projecting sales growth of three-to-four percent, compared to one-to-three percent previously. EPS is now projected to grow five-to-eight percent. P&G plans to reward shareholders with $8 billion in dividends over the full fiscal year and slightly increase its share buyback program. jum/sl/hs/cs
schema:headline	Demand for cleaning products boosts P&G earnings
schema:mentions	Busta Rhymes Pampers Procter & Gamble Dawn Summers Toilet paper Pandemic Coronavirus disease United States Oral-B Soft Spot Earnings per share Share repurchase
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-10-20 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	73 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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