Procter & Gamble’s sales up 9% in Q1
In Q1 of the 2020-21 financial year, from July to September 2020, sales for US consumer goods group Procter & Gamble (P&G) grew 9% to $19.3 billion (€16.3 billion). As the global pandemic still rages, the US giant continues to benefit from rising demand for household cleaning products, a segment whose sales jumped 14%, to $6.6 billion.
In addition to the impulse provided by the household detergents segment, all of P&G’s divisions posted sales increases. The Beauty division, with brands like Head & Shoulders and Herbal Essences, recorded sales worth $3.7 billion, equivalent to a 7% rise, notably driven by demand in North America and China. The men’s grooming segment, with Gillette and Braun, grew by 6%, and the oral care segment (with Oral B) by 12%.
“Our short-term priorities continue to be ensuring the health and safety of our employees, optimising the availability of P&G products for consumers all over the world, and helping the group deal with the challenges of the Covid-19 crisis,” said David Taylor, president and CEO of P&G.
In Q1, P&G’s net income was $4.3 billion, equivalent to a 19% increase. On the strength of these performances, the group has revised upwards its guidance for the full financial year, and is now forecasting a sales growth between 3% and 4%, as opposed to an increase of 1% to 3% previously.
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