The Procter & Gamble Company (P&G) has released its financial results for both Q2 and Fiscal Year 2018.
During Q2, P&G's net sales reached $16.5 billion, an increase of 3% over Q2 2017. The April-June quarter saw P&G's Beauty segment sales increase by 7% while Grooming segment sales decreased by 3%, Health Care segment sales increased by 1% and Baby, Feminine & Family Care segment sales decreased 2%.
For FY 2018, P&G reported that net sales increased by 3% to reach $66.8 billion.
David Taylor, chairman, president and CEO of P&G, was quoted saying, "We made important progress in fiscal 2018. We delivered strong volume and consumption growth, market share trends improvement, Core EPS and cash generation results above going-in targets, albeit with organic sales slightly below target. We are operating in a very dynamic environment affecting the cost of operations and consumer demand in our categories and against highly capable competitors. We will accelerate change in the organization and culture to meet these challenges. We will continue to drive cost and cash productivity improvements, and we will invest in the superiority of our products, packages and demand creation programs. All of these efforts are aimed at delivering balanced top-line and bottom-line growth that creates shareholder value over the short, mid and long term.”
