Proctor and Gamble: Next decade to deliver industry-leading growth

Proctor & Gamble, a multinational manufacturer of a number of product ranges, has forecast that it will lead its industries in terms of growth over the next ten years. The prediction was made at the company’s annual meeting for shareholders this week.

The company reported on improved sales in the 2006 financial year, noting an increase in net sales of 20 per cent to $68 billion (36.6 billion pounds), with organic sales increasing by seven per cent.

Proctor & Gamble also stated that the merger with Gillette last year had been a success, forecasting $750 million (404 million pounds) in revenue synergy growth by the third year.

A.G. Lafley, chairman, president and chief executive of the company, said: “We are now focused on delivering a full decade of industry-leading top and bottom line growth. We have the strategies, strengths and the structure to continue to transform our company in the face of unrelenting change and competition.”

Gillette was acquired by Proctor & Gamble in January 2005 – the largest acquisition the company has made, being valued at $57 billion (30.7 billion pounds).

In July, the company announced it had formed a collaboration with ARYx Therapeutics to develop ATI-7505, a new treatment for gastro-oesophageal reflux disease and gastroparesis.