Procter & Gamble, the US consumer goods giant that owns the Pringles brand, today (27 October) reported a “high single-digit” increase in snacks volumes during its first quarter.
The company, which has the bulk of its business in non-food brands like Gillette and Head & Shoulders, said increased distribution in certain markets had boosted its snacks volumes. P&G also pointed to the benefit of marketing its Pringles Xtreme and Multigrain lines.
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“Volume in snacks increased high single-digits mainly due to increased distribution in Central and Eastern Europe, the Middle East and Africa and Latin America and Xtreme and Multigrain initiatives in North America and Western Europe,” P&G said.
However, sales from P&G’s snacks and pet care division fell 6% to US$709m for the three months to the end of September.
“Organic sales were down 9%. Pricing reduced net sales by 2%. Product mix reduced net sales by 2% due to the disproportionate growth of snacks, which have lower than segment average selling prices,” P&G said.
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The group’s total net sales increased 2% to $20.1bn. Net earnings fell 7% to $3.08bn.
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