P&G increases third-quarter sales

P&G reports fiscal-third-quarter net sales of US$19.4b, an increase of 7 per cent from a year earlier.

Procter & Gamble (P&G), parent company of Procter & Gamble Professional (P&G PRO), has reported fiscal-third-quarter net sales of US$19.4 billion, an increase of 7 per cent from a year earlier.

The company reported an operating income of $4.02 billion, a rise of 6 per cent from $3.78 billion a year earlier.

Net sales for P&G’s health care divisions climbed 13 per cent, while sales in its beauty segment rose 2 per cent.

The company’s fabric and home care division reported a 7 per cent increase in net sales and its grooming segment raised sales 3 per cent.

“We delivered another quarter with strong sales growth and made sequential earnings growth progress despite significant and increasing cost headwinds,” said Jon Moeller, president and CEO.

Moeller said the company’s focus remains on the strategies of superiority, productivity, constructive disruption and continually improving P&G’s organisation and culture.

“These strategies have enabled us to build and sustain strong momentum. They remain the right strategies to manage through the near-term cost and operational challenges we’re facing and to deliver long-term balanced growth and value creation.”

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