Procter & Gamble has posted a jump in full-year net sales and profits, thanks to increasing sales and margin improvements.
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For the full year, P&G earned US$12.1bn, or $3.64 per share, an increase of 20%. During the period the company booked net sales of $83.5bn.
“P&G delivered top- and bottom-line growth at or above the company’s targets – while also successfully completing the integration of Gillette,” said chairman and CEO, A.G. Lafley.
During the fourth quarter, the company’s snacks, coffee and pet care division posted an 8% increase in sales, which rose to $1.2bn. Increased volumes accounted for 1% of this growth, 6% was the consequence of price hikes and 4% came from favourable currency exchange. These gains were partially offset by declining coffee sales.
Snacks volume increased in the high-single digits, driven by the Pringles Stix and Extreme Flavours initiatives in North America, the company said.
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