Procter & Gamble Co., manufacturers of Pampers diapers and Head & Shoulders shampoo, revealed Thursday that its fiscal second-quarter profit slipped by 7% from the previous year, when it had a gain from the sale of its Folgers coffee business.

Sales of P&G's high end goods witnessed soaring pressure during the recession but in recent months the company has begun to witness an improvement.

Organic sales are reported to jump by 5% in the latest quarter, at the high end of the company's guidance.

P&G augured its profit for fiscal 2010 organic sales and core earnings. For fiscal 2010, it projected profit of $3.53 to $3.63 a share while for organic sales is had speculated a rise of as much as 5%, more than its previous guidance of sales up as much as 4%.

It augurs its core profit of 77 cents to 82 cents a share in the third quarter with organic sales forecast to increase as much as 6%.

The wounded outlook for the household goods industry, has improved in recent quarters triggered by a pickup in the broad global economy.

"Our investments in innovation, portfolio expansion, marketing support and consumer value are working", said Chief Executive Bob McDonald. "We continue to drive simplification and leverage our scale to create cost advantages and accelerate growth".