Procter & Gamble’s third quarter of 2016/2017 yielded meagre results once again. Autonomously, turnover grew another 1 %, but net turnover dropped 1 %.
Razor blade drop
Third quarter net turnover reached 15.6 billion dollars (14.3 billion euro) and excluding the negative exchange rate fluctuations, turnover would have grown 1 %. Prices and sales volumes remained stable in that quarter, compared to the previous year.
Procter & Gamble’s health division, including Oral’s dental hygiene products, grew the most: turnover grew 6 % organically and sales volumes went up 4 %.
The Grooming division were not as positive, with a 6 % turnover drop. Strong competition in the United States, with lower razor blade and foam sales, led to the lower turnover. On the other hand, razor innovations helped Braun grow 9 %.
Procter & Gamble expects a 2 to 3 % autonomous growth for its fiscal year, a forecast it barely manages at this point. The company has tried to grow for a while, but not entirely successfully. It sold several cosmetics companies recently and already cut more than 9 billion euro in costs.