For the three months ended December 31, 2016, net sales at tissue marketer Kimberly-Clark Corporation were flat over the same quarter of the prior year at $4.5 billion. However, organic sales rose 1 per cent, driven by a 3 per cent growth in developing and emerging markets, while changes in foreign currency exchange rates, reduced sales by 1 per cent.

Of overall sales, consumer tissue segment net sales in the fourth quarter of 2016 were down 1 per cent year over year, to $1.5 billion, while changes in foreign currency exchange rates also led to sales dropping 1 per cent.

Sales of consumer tissues in North America were flat with year ago levels, although volumes were up slightly. But sales in developing and emerging markets declined 3 per cent, while volumes decreased higher at 4 per cent, both falling over a year ago period.

Consumer tissue sales in developed markets outside North America dipped 1 per cent, but volumes were up 3 per cent, mainly in Australia and Western and Central Europe.

Diluted net income per share for the reporting quarter at Kimberly-Clark soared to $1.40 as against $0.91 in the fourth quarter of 2015, primarily driven by cost savings.

The company expects net sales in 2017 to be same as in 2016, which includes organic sales growth of around 2 per cent. (AR)