The Procter & Gamble Company increased core earnings per share by five percent to $1.06 for the July-September quarter. Net sales were $20.7 billion, a decrease of four percent versus the prior year period including a negative six percent impact from foreign exchange. The Company continued to deliver broad-based organic sales growth, with four of five business segments increasing versus the prior year.
A few categories influenced this growth. In the Beauty segment, organic sales increased versus the prior year in the salon professional and prestige categories. This was driven by innovation, regaridng the Wella, Dolce & Gabbana, and Gucci brands.
In the Grooming segment, organic sales increased versus the prior year in the Shave Care category. Growth was influenced by brands including Fusion ProGlide.
“Our first quarter results put us on track to deliver our commitments for the fiscal year. Results were at the high end of expectations on the top line and ahead of plan on operating profit, earnings per share and cash,” said Bob McDonald, chairman, president and CEO, Proctor & Gamble. He further explained, “We are continuing to focus on executing our growth and productivity strategy – maintaining momentum in developing markets, strengthening our core developed market business, building a strong innovation pipeline, and aggressively driving cost savings and productivity improvements. We’re confident that this strategy will enable P&G to generate superior levels of shareholder return in both the short- and long-term.”