Turnover drop and profit growth for Procter & Gamble

Turnover drop and profit growth for Procter & Gamble
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Procter & Gamble's fourth quarter turnover was lower than last year's fourth quarter, mainly because of negative exchange rate fluctuations and its divestment from Venezuela.

 

Gillette performs well

Procter & Gamble's total turnover in the fourth quarter reached 16.1 billion dollars (14.4 billion euro), down 3 % compared to last year. However, the exchange rates have had a negative 3 % impact and its departure from Venezuela also lowered turnover 2 %. Autonomously, turnover grew 2 % compared to last year.

 

Three of the company's five divisions remained stable turnover wise, but "Health Care" grew 7 % and "Grooming" 8 %. Health Care benefited from strong Oral-B and Crest sales, while Gillette Fusion's strong sales in emerging markets helped the Grooming division.

 

Progress in China

P&G is also happy with its better Chinese performance, which is its second largest market after the United States. However, it has been a problem area in these past few quarters.

 

Fourth quarter net profit grew a lot, from 535 million dollars (447 million euro) to 1.96 billion dollars (1.75 billion euro).

 

P&G's turnover for the full fiscal year dropped 8 % to 65.3 billion dollars (58.3 billion euro), with a 6 % negative impact from the exchange rates. Net profit grew 48 % to 10.6 billion dollars (9.5 billion euro).