P&G; Hygiene and Healthcare (PGHH) reported a surprisingly strong 18.5% sales growth in 1QFY21 (June year-end) in a difficult operating environment. Management's statement in the press release was also encouraging. The press release stated that growth was driven by the Feminine Hygiene segment (67% of FY20 sales), which grew in double-digits (in our view over 20%) compared to the Healthcare segment, which grew in high single-digits. After ~25% growth in the Feminine Hygiene segment in FY19 (and ~20% overall sales growth), this segment had reported flattish growth in FY20 as...