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Home Industry News Procter and Gamble records organic sales growth for fiscal year 2017

Procter and Gamble records organic sales growth for fiscal year 2017

8th August 2017

Procter and Gamble has announced its financial results for the 2017 fiscal year, during which the company achieved year-on-year organic growth.

During the 12 months ending in June 2017, the company's net sales came to $65.1 billion (50.17 billion pounds), which was unchanged versus the prior year in nominal terms, while organic sales increased two percent thanks to a rise in shipment volumes.

In the final quarter of the year, the company generated $16.1 billion in sales, which also represented a two percent organic rise. Its beauty, fabric and homecare divisions were cited as the best-performing units.

Procter and Gamble made progress on a number of key targets, including achieving organic sales growth, driving strong productivity improvements and cost savings, and completing moves to simplify and strengthen its product portfolio.

For the 2018 fiscal year, the company is projecting organic sales growth in the range of two to three percent.

David Taylor, chairman, president and chief executive officer of Procter and Gamble, said: "Our long-term objective is to deliver results at levels that support our goal of balanced growth and value creation and operating total shareholder return in the top third of our competitive peer group."

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