Further on the ‘Growth’ Theme – Procter & Gamble Edition

Growth will be the new holy grail of business as we emerge from this downturn: how and where to find it, profitably.

The point is that organic growth (unlike M&A synergy growth) will result from the hard work of innovation, and investment in products and services. Confirmation comes today from Procter & Gamble, which now expects to rebound to organic growth in its fiscal second quarter due to demand for new products.

Says the packaged-goods giant’s CFO Jon Moeller: “The innovations we are launching and the investments we are making are having an impact in the market.” P&G thus confirms its guidance for its first half and fiscal 2010, saying it expects the decline in its organic sales to come a halt.

This news sends P&G 4 percent higher, to above $55, in early trading today.

Another tea-leaf….