Procter & Gamble Co stood by its earnings forecast for the current quarter on Thursday and said it expects sales to improve in the next quarter.
The maker of Tide laundry detergent, Crest toothpaste and a host of other well-known household brands said it still expects earnings per share of 95 cents to $1.00 for the current fiscal first quarter, which runs July through September, as it expects organic sales to be flat to down 3 percent. That measure excludes the impact of currency fluctuations, acquisitions and divestitures.
For the second quarter, the company expects organic sales to rise 1 percent to 4 percent, helped by new products and other investments.
P&G shares traded at $54.60 in premarket dealings, up from Wednesday's New York Stock Exchange close of $53.76.
(Reporting by Brad Dorfman, editing by Gerald E. McCormick)