P&G has shared its second quarter results for fiscal year 2016, which showed a return to organic sales growth after a decline in the previous quarter.
Organic sales were up 2% while core earnings per share increased 9% to $1.04. Core operating profit margin also increased 350 base points. Overall, the company saw net sales of $16.9bn – a decrease of 9% largely due to the impact of foreign currency exchange.
David Taylor, President and CEO of P&G, commented on the results: “We are encouraged by our return to organic sales growth in the quarter. With the top-line improvement and continued cost reduction, we delivered solid core operating income and EPS growth in the face of significant macro-economic and geopolitical headwinds.”
Last year P&G agreed a deal to sell 43 of its beauty brands to Coty after years of declining growth, leaving core brands, such as Gillette, as a point of focus.
