CLAIROL BOOSTS P&G OUTLOOK

Procter & Gamble has raised its quarterly earnings forecast for the fourth time in succession on the back of strong performances from its Clairol haircare business and healthcare unit.

P&G, the maker of Tide laundry detergent and Pampers nappies, now expects double digit percentage volume growth for its first quarter ending this month.

Core earnings per share, excluding restructuring charges, were expected to show growth in the mid teens, compared with the previous guidance of 11-15%.

Full-year forecasts were unchanged at double-digit earnings growth, and sales growth of 4-6%.