P&G hikes forecast on sustained Covid-led demand for cleaning products

Procter & Gamble Co raised its annual sales and earnings forecasts on Tuesday, as coronavirus-driven home cleaning pushed sales of the consumer goods giant's home care products as much as 30 per cent higher.

P&G's shares, up 14 per cent this year, rose another 2 per cent after the numbers suggested consumers are spending the cash they have saved by traveling and socializing less this year on its higher-priced branded goods. The maker of Tide and Ariel detergent has also benefited from people washing their clothes more.....

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