The Procter & Gamble Company (P&G) has reported sales growth for the third fiscal quarter, driven by better performance across all segments, especially beauty.
Net sales for the January-March quarter rose 7 per cent year-on-year to US$21.2 billion. Organic sales, which exclude the impacts of foreign exchange and acquisitions and divestitures, rose 3 per cent, including a 2 per cent increase from volume and a 1 per cent rise from pricing.
The beauty segment led the growth with organic sales increasing 7 per cent. Grooming segment organic sales increased 1 per cent, while health care rose 2 per cent.
Fabric and home care segment organic sales increased 3 per cent, the same as the baby, feminine and family care segment.
On the bottom line, operating income remained flat, while net earnings improved 4 per cent.
“We delivered a solid acceleration in top-line results in our fiscal third quarter, with broad-based growth across product categories and regions,” said Shailesh Jejurikar, president and CEO.
“We’re increasing investments to accelerate momentum with consumers despite the challenging geopolitical and economic environment, while still maintaining our guidance ranges for the fiscal year.”
For the full year, P&G expects net sales growth to be in the range of 1-5 per cent, and organic sales to be flat to up 4 per cent.
