The Procter & Gamble Company posted strong first quarter net sales growth of nine percent to $21.9 billion. Organic sales, which exclude the impact of acquisitions, divestitures and foreign exchange, grew four percent behind higher volume and pricing. The Company continued to deliver broad-based organic sales growth, with all six business segments up versus the prior year. Net sales and organic sales are expected to increase three to six percent in fiscal 2012.

“The first quarter was a good start to the fiscal year,” said Chairman of the Board, President and Chief Executive Officer Bob McDonald. “We maintained strong top-line growth momentum in a difficult operating environment. We are well positioned – due to continued top-line strength, recently implemented price increases and our productivity improvement and cost savings efforts – to improve earnings growth as we progress through the fiscal year.”

“Market share was in-line or higher in businesses representing 60 percent of global sales. We held or grew market share in three of five regions, 11 of our top 15 countries, four of six reporting segments and on 15 of our 24 billion-dollar brands,” he said. “Diluted net earnings per share increased one percent to $1.03 due to sales growth, partially offset by operating margin contraction. Operating margin declined primarily due to a reduction in gross margin, driven by higher commodity costs.”

Beauty net sales increased nine percent to $5.4 billion on unit volume growth of four percent. Organic sales grew four percent, the ninth consecutive quarter of growth, on five percent organic volume growth. Grooming net sales increased 10 percent to $2.1 billion.

According to McDonald, beauty is continuing to make investments to support geographic expansions and to drive growth behind product initiatives. The investments have led to positive results in developing markets and in categories like Retail Hair Care and Prestige. However, volume in Female Beauty decreased mid-single digits and volume in Salon Professional also declined high single digits due to market softness and competitive activity, he said.