P&G, McDonald’s Beat Quarterly Fiscal Estimates

29 April 2003

Two US-headquartered global icons reported their latest numbers on Monday.

Procter & Gamble, the globe’s largest advertiser, posted a 23% rise in profit for its fiscal third quarter to March 31, thanks both to the effect of a weaker dollar on overseas sales and stronger sales in high-margin categories such as oral care and pharmaceuticals. Net income during the quarter increased to $1.27 billion (€1.16bn; £0.80bn), or $0.91 a share – versus $1.04bn ($0.74) a year earlier. Sales rose 7.6% to $10.66bn from $9.9bn, while unit volume (which excludes price and foreign-currency effects) rose 7%.

McDonald’s Corporation, the world’s largest restaurant business, bettered profit estimates for the first quarter, despite continuing weakness on worldwide sales. Net income rose 29% to $327.4 million (€298.25m; £205.7m), or $0.26 a share, from $253.1m ($0.20 a share, in same period in 2002. Earnings were boosted by lower taxes and favorable foreign-currency exchanges.

Data sourced from: The Wall Street Journal Online; additional content by WARC staff