ProGlide launch helps P&G boost volumes

Procter & Gamble has reported a 10% hike in net sales growth over the final three months of its financial year.

Profits at the Fairy, Pampers and Gillette owner were up 15% for the quarter.

Sales for the year as a whole up 5% to $82.6bn (£50.71bn), with volumes up 6%, boosted by new products including the Gillette Fusion ProGlide razor, which debuted in the UK this January.

Across the year, commodity cost hikes had contributed to a 1.2 percentage point drop in gross margins, P&G said, although this was partially offset by manufacturing cost savings.

The company’s spend on advertising was up $700m year-on-year to $9.3bn, or 11.3% of net sales.

“We are pleased with the strong top and bottom-line performance in the quarter,” said chairman and chief executive Bob McDonald. “We delivered sales growth of 5% and earnings per share growth of 18% in a challenging environment.”

Read more
The Co-op and P&G team up to enable Scots youngsters (4 August 2011)
P&G plans to expand into oral care market (11 July 2011)