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Recession Dents P&G’s Results

Sales and earnings slip in fiscal 2009.

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By: TOM BRANNA

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The recession did some damage to Procter & Gamble in its recently concluded fiscal year. Unit volume declined 3% as the global economic downturn, credit crisis and price increases contributed to market size declines and trade inventory reductions. Organic volume, which excludes the impact of acquisitions and divestitures, was down 2% for the fiscal year. As a result, net sales fell 3% to $79.0 billion for fiscal 2009. The company said organic sales increased 2% primarily due to price in...

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