P&G reports 9% quarterly net sales increase

Procter & Gamble (P&G) has reported a 9% increase in net sales in its first-quarter fiscal year 2021 (July-September 2020) figures compared to the previous year.

P&G’s beauty segment organic sales increased by 7% compared to the previous year. Skin and personal care organic sales increased in the high single digits, driven by innovation-led growth in North America and China.

Skin and personal care in North America grew ‘mid-teens’ behind the launch of Safeguard hand soap and hand sanitiser and premium innovations on Olay, the organisation reported.

Globally, personal cleansing grew by more than 30%, with double-digit growth in every region. Hair care organic sales also increased in the high single digits, led by strong demand in North America, China, and Latin America, with mid-single-digit growth or better across each of P&G’s top hair care brands.

In the grooming segment, organic sales increased by 6% compared to the previous year. Appliances organic sales increased more than 30% due to innovation, increased demand for dry shaving and styling products, and increased pricing. Shaving care organic sales were unchanged, as high single-digit growth in female blades and razors were offset by market softness in male blades and razors, due to pandemic-related consumption decline.

David Taylor, chairman, president, and CEO of P&G, said: “We delivered another strong quarter of organic sales growth, core earnings per share and cash returned to shareowners, enabling us to increase our outlook for fiscal year results.

“Our near-term priorities continue to be employee health and safety, maximising availability of P&G products for consumers around the world, and helping society meet the challenges of the COVID-19 crisis.

“We remain firmly focused 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.”

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