Consumer products giant Procter & Gamble Co. announced Thursday that it is set to invest in its strongest innovation program that is revealed to launch new products in the coming months with an aim to drive growth across its business.

The company also reaffirmed its earnings outlook for fiscal year 2010. Further ahead, for fiscal year 2011, Procter & Gamble revealed that it hopes continued growth and boosting profits as compared to the previous year, but did not provide detailed guidance.

P&G threw light on some of those plans, such as reformulated Pantene hair care products, thinner, more absorbent Pampers diapers, and a new version of its Gillette Fusion razor, during a presentation at the Consumer Analyst Group of New York conference in Boca Raton, Florida, on Thursday.

Bob McDonald, P&G's Chairman of the Board, President and Chief Executive Officer, said, "We have the strongest innovation program that I can remember in my 30-year career at P&G, and we are investing behind it to drive growth across our business".

For fiscal year 2010, P&G revealed its outlook for GAAP earnings per share in a bracket $4.02-$4.12 and its core earnings per share in a range of $3.53-$3.63.

The sixteen analysts surveyed by Thomson Reuters speculate the company to register earnings of $4.14 per share for the year. Analyst’s estimates typically exclude special items.