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Procter & Gamble takes advantage of habitual changes linked to pandemic

2021-01-20T13:14:01.853Z


The American consumer goods group Procter & Gamble (P&G), which benefits from certain changes in habits linked to the pandemic, on Wednesday released quarterly results above expectations and raised its forecasts for the year. The company's sales rose 8% between October and December, the second quarter of its fiscal year, to $ 19.75 billion. To read also: Béatrice Dupuy, the female asset of Procte


The American consumer goods group Procter & Gamble (P&G), which benefits from certain changes in habits linked to the pandemic, on Wednesday released quarterly results above expectations and raised its forecasts for the year.

The company's sales rose 8% between October and December, the second quarter of its fiscal year, to $ 19.75 billion.

To read also: Béatrice Dupuy, the female asset of Procter & Gamble in Europe

The largest increase came from the laundry and cleaning products category (+ 12%), with consumers staying at home more often.

Next comes the health products category (+ 9%), with a marked increase in sales of toothpastes and toothbrushes.

Sales of products that make breathing easier, with the Vicks brand, have declined, however, due to fewer coughs, colds and flu this year.

Sales of beauty products on the one hand and products for babies, feminine hygiene and family hygiene on the other hand, increased by 6%.

Sales of toilet paper and tissue were particularly strong.

The group earned a total of $ 3.85 billion over the period, which represents an increase of 4% over one year.

Reported per share and excluding exceptional items, the benchmark on Wall Street, Procter & Gamble's profit amounted to $ 1.64, more than the $ 1.51 forecast by analysts.

The company has also raised its forecast for the financial year ending in June, with sales now expected to rise from 5% to 6%, against 3% to 4% previously.

The group also slightly raised its forecasts for adjusted earnings per share, now expected to rise from 8% to 10% against 4% to 9% previously.

On the strength of its results, Procter & Gamble plans to pamper its shareholders: its share buyback program can now go up to $ 10 billion, against 9 billion previously.

Also read: Procter & Gamble Profits From Demand For Cleaning Products

By adding dividends, the group plans to return $ 18 billion to its shareholders over the entire accounting year.

On Wall Street, the stock rose 1.7% in electronic trading before the stock market opened.

Source: lefigaro

All business articles on 2021-01-20

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