P&G releases Q2 fiscal year figures
According to the report, beauty segment organic sales increased 8% year-on-year, and skin and personal care organic sales increased ‘double digits’, driven by ‘premium innovation’ and increased pricing. Hair care organic sales increased ‘mid-single digits’. Organic sales of P&G’s grooming products also increased by 4% year-on-year, with shaving products increasing in the ‘low single digits’, also driven by innovation and devaluation-driven price increases, according to the company.
Its health care segment organic sales increased by 7%, and oral care organic sales increased ‘mid-single digits’ “due to innovation and positive mix in the premium toothpaste and toothbrush segments”.
David Taylor, P&G’s chairman, president and CEO, said: “We delivered another strong quarter of organic sales growth, core earnings per share and cash returned to shareowners. Our strong first half results enable us to further increase our outlook for the full fiscal year across each of these metrics and to increase our commitment of cash return to shareowners.
“Our focus remains on executing our strategies of superiority, productivity, constructive disruption and improving P&G’s organisation and culture to deliver balanced top-line and bottom-line growth along with strong cash generation in a challenging competitive and macroeconomic environment.”