UPDATE 3-No sales and profit growth for P&G in 2015 due to strong dollar

martes 27 de enero de 2015 16:10 GYT

(Adds analyst comment, details, updates shares)

By Shailaja Sharma and Nandita Bose

Jan 27 (Reuters) - Procter & Gamble Co, the world's largest household products maker, said it no longer expects sales and core earnings growth this year, joining a host of companies in blaming a strong dollar for disappointing results and outlooks.

P&G, which derives roughly two-thirds of revenue outside the United States, also reported lower-than-expected quarterly sales and profit as the devaluation of major currencies, especially the Russian ruble, versus the dollar ate into profit.

P&G's shares fell 3.5 percent to $86.40 in afternoon trading.

Companies such as Caterpillar Inc, Microsoft Corp and Johnson & Johnson have blamed a strong dollar for weak results and outlook.

"This is the most significant fiscal year currency impact we have ever incurred," Jon Moeller, P&G's chief financial officer, said on a conference call.

The maker of Pampers diapers and Tide detergent expects full-year net sales to fall 3-4 percent, compared with its prior forecast of flat to low-single digit percentage rise.

Core profit is expected to be flat to down in the low-single digit percentage range, compared with its prior forecast of mid-single digits growth.   Continuación...