The Procter & Gamble Cos fourth-quarter profit fell 18 per cent,the consumer products maker said Wednesday,as households around the globe kept tight reins on spending in the recession. The Cincinnati-based maker of Pampers diapers,Tide detergent and Gillette shavers also said it expects slow sales and sluggish earnings to continue in the short term and forecast more declines for the current quarter. Procter & Gamble reported earnings of nearly $2.5 billion,or 80 cents per share,in the three months ended June 30. That's down from $3 billion,or 92 cents per share,a year ago. Analysts expected earnings per share of 79 cents. Revenue fell 11 per cent,to $18.7 billion,as sales fell across the companys broad portfolio. Analysts expected $19.4 billion. For the first quarter that began July 1,P&G expects earnings per share in the range of 95 cents to $1,down from $1.03 a year ago. Analysts surveyed by Thomson Reuters expect $1 a share. For the full year,P&G stuck with earlier guidance of $3.65 to $3.80 per share with organic sales growth or sales not related to acquisitions and other such changes of 1 to 3 per cent. The quarter ended AG Lafleys nine-year run as CEO. In fiscal 2009 and particularly in the fourth quarter,P&G faced one of the most difficult macroeconomic environments in decades, Lafley said in a statement.
