Procter & Gamble said Friday that second-quarter net income more than doubled with the help of new products and lower prices. CEO Bob McDonald discussed how the world's largest consumer products maker is faring in China.
QUESTION: Could you give an update on how China is doing?
RESPONSE: "China organic sales grew in the high single digits in the quarter and grew double digits last fiscal year. (Market) share is still down a little bit versus last year, but about 50 percent of the business is holding or growing share, so about 50 percent. And share trends are improving on more than two-thirds of the portfolio that we have in China. We've got a strong portfolio of innovation launching this fiscal year, and particularly here in the back half of the year, and we expect the combination of our interventions that we've already made and our innovation will return us to market share growth in China."