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Home Industry News Procter and Gamble meets targets in final quarter of 2013

Procter and Gamble meets targets in final quarter of 2013

6th August 2013

Procter and Gamble has announced its financial results for the fourth quarter of 2013, during which it generated a net sales total of $20.7 billion (13.47 billion pounds).

This represented a two percent year-on-year increase, or a four percent growth on an organic basis, with its beauty, health, homeware and family care segments all experiencing improved sales.

It means that for the 2013 fiscal year as a whole, the company's net sales total improved by one percent to $84.2 billion, thereby meeting the goals it set at the beginning of the 12-month period.

For fiscal year 2014, Procter and Gamble expects organic sales growth in the range of three percent to four percent, compared to underlying global market expansion of about 3.5 percent.

The firm's chairman, president and chief executive officer (CEO) AG Lafley said: "We will continue to make choiceful investments in core brands, our biggest innovation opportunities and in our core developed and most promising developing markets."

Mr Lafley returned to lead the company in May 2013 after Bob McDonald – who previously succeeded Mr Lafley when he left the CEO role in 2009 – announced his retirement.ADNFCR-8000103-ID-801621721-ADNFCR

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