Procter & Gamble saw shares rise by more then 4% on Tuesday after reporting strong consumer demand in its second quarter.
In the three months to December, volume grew 4% in the US and 3% in Europe as it increased global prices by 4%, however, the consumer goods company cut its annual profit forecast following a $1.3bn (£1.01bn) charge after a drop in the value of its Gillette business.
However margins were better than expected as P&G’s gross margin increased by 590 points before currency effects, Financial Times reported.
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P&G chief financial officer Andre Schulten said that price increases at the group would likely slow and that the next two quarters would “see less pricing benefit”
