Manufacturer’s sales growth fails to keep pace with predictions
Procter & Gamble has announced a 5% growth in Q4 net sales to $18.9bn and a 3% increase in full year results to $78.9bn. Organic sales grew 4% for the quarter and 3% for the fiscal year, while diluted net earnings per share were put at $0.71 for the quarter. Market share grew for the quarter, according to the company, with all regions holding or growing share.
Despite the strong growth for the quarter, the figures were below analyst’s predictions, which had forecast Q4 sales to total $19.1bn.
The group’s beauty business saw a 3% increase in fiscal 2010 to $19.5bn and a unit volume growth of 3%. Grooming net sales also increased 3% to $7.6bn for the same period with a 1% increase in unit volume.
“The investments we’ve made in innovation, marketing support and consumer value have delivered accelerating unit volume and profitable market share growth throughout the year, which are clear indications that our strategy is working,” said chairman of the board, president and ceo Bob McDonald.