P&G raises FY forecast after strong Q1 | Progresiv
Procter & Gamble has raised its sales and profit forecasts for the full fiscal year, after reporting better-than-expected growth for its first quarter. For the three months to 30 September 2019, P&G saw its net sales grow by 6.6% to 17.8 billion dollars, with organic sales up 7% and organic volumes growing by 4%. Meanwhile, net profit jumped up 12.1% to 3.6 billion dollars and operating profit surged up 20.7% to 4.3 billion dollars. P&G reported its strongest growth in the Health Care unit, where sales jumped up 20% to 2.22 billion dollars (+9% organic), on organic volume growth of 6%. 
Meanwhile, the Fabric & Home Care business reported a 6% to 5.8 billion dollars (+8% organic), even as volumes rose by 6%. The Beauty business saw its sales grow by 8% to 3.55 billion dollars (+10% organic), with volumes up 3%. And the Baby, Feminine & Family Care unit recorded a 4% uptick to 4.6 billion dollars (+5% organic), on a volume increase of 2%. The only unit to report a downturn was the Grooming business, which saw sales decline by 2% to 1.5 billion dollars and volume slip by 1%, but even there P&G had cause for cheer, as organic sales were up 1%.
CEO David Taylor noted: “We will continue executing our strategies of superiority, productivity, constructive disruption and improving P&G’s organization and culture to deliver balanced top-line and bottom-line growth along with strong cash generation in a challenging competitive and macroeconomic environment.”
The group said it now expects full-year sales to grow by 3%-5%, compared to its previous forecast of 3%-4% growth. It also expects core earnings per share to grow by 5%-10%, from an earlier outlook of 4%-9% growth. (www.kamcity.com)
