Procter and Gamble meets expectations in Q1 2018

Procter and Gamble has expressed satisfaction with its results for the first quarter of the 2018 business year, which ran from July to September 2017.

During this period, the company met its internal expectations with a net sales total of $16.7 billion (12.72 billion pounds), which represented a year-on-year increase of one percent on both a reported and an organic basis.

Improved performances for its beauty, healthcare, and fabric and homecare businesses helped to offset declines experienced by the firm's grooming and baby, feminine and family care segments, while diluted net earnings per share came to $1.06, an increase of ten percent.

For the full year, the company is maintaining its expectation for organic sales growth rate in the range of two to three percent, with all-in sales growth of around three percent anticipated.

David Taylor, chairman, president and chief executive officer of Procter and Gamble, said: "Looking forward, we will drive innovation, productivity and organisation transformation to accelerate top-line growth while further expanding our industry-leading profit margins."

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