Procter & Gamble (P&G), parent company of Procter & Gamble Professional (P&G PRO), has reported fiscal-first quarter net sales of US$20.3 billion, an increase of 5 per cent from a year earlier.

The company reported an operating income of $5.02 billion, a dip of 5 per cent from $5.28 billion a year earlier.

Net sales for P&G’s health care divisions rose 8 per cent, while sales in its beauty segment increased 5 per cent.

The company’s fabric and home care division raised sales 5 per cent while its grooming segment also reported a 5 per cent bump in net sales.

“We delivered solid results in our first quarter of fiscal 2022 in a challenging cost and operating environment,” said David Taylor, chairman, president and CEO.

“These results keep us on track to deliver our top-line, bottom-line and cash targets for the fiscal year.

“We remain focused on executing our strategies of superiority, productivity, constructive disruption and continually improving P&G’s organisation structure and culture.

“These strategies enabled us to build strong momentum before the COVID crisis and accelerate progress as we navigate through the crisis, and they remain the right strategies to deliver balanced growth and value creation.”

This article was first published by ISSA 

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