P&G reports 7% increase in net sales
January to March quarter growth due to increased innovation and marketing support says P&G
The Procter & Gamble Company has enjoyed a 7% increase in net sales to $19.2bn in January to March 2010 quarter, on a 7% increase in unit volume. “We are very pleased with this quarter’s results,” commented P&G’s chairman of the board, president and ceo, Bob McDonald. “Volume growth was strong as we accelerated our pace of innovation and increased marketing support.
“Our overarching growth strategy – to touch and improve more consumers’ lives in more parts of the world more completely – is working.”
P&G’s beauty business increased 6% compared to the prior year period with net sales of $4.6bn. According to P&G all its major hair care brands contributed to unit volume sales growth, while female beauty volume growth was in the mid single digits. There was strong growth in the male blades and razors category, driven by Gillette Fusion, which delivered double-digit growth in the quarter.
The company predicts a 6-7% increase in net sales for the April-June quarter and net sales growth of 3-5% for the full fiscal year.