Procter&Gamble sees quarterly profit and turnover rise

Procter&Gamble’s net profits have gone up 15% to 1.75 billion euro in the second quarter (according to their financial year: the fourth). Much like their competitor Unilever, P&G has been able to let the consumers pay for most of the rising prices for raw materials. The rest of the rise was due to cost cuts, exchange rate fluctuations and excellent performances on growth markets.

P&G’s net turnover also went up, to 14.6 billion euro (+10%), pushing the yearly turnover to reach 57.3 billion (+5%). For both the next quarter and the next financial year, the Cincinnati concern expects a growth up to 9%. 

European sales have been flourishing because of P&G’s sharp prices on Gilette razors and Pampers, which caused most competitors serious problems: only Unilever and Henkel have stood their ground. American sales however have slowed down due to a lower consumer confidence: P&G has now adopted the strategy of aiming at Asian markets, as to lower their dependence on American sales.