P&G net sales remain flat at $16.9bn in Q2 2017

By Lucy Tandon Copp 20-Jan-2017

Beauty brand sale to Coty resulted in a 157% increase in diluted net earnings per share, totalling $2.88

P&G has shared its Q2 2017 results showing net sales of $16.9bn, flat compared with the year before.

Organic sales and volume, however, did increase across all five of P&G’s business segments, despite a “difficult” operating environment, said Chairman, President and CEO David Taylor.

In beauty, organic sales grew 3% compared with the year before, in the Hair Care and Skin & Personal Care divisions.

Premium brand SK-II was a strong performer in the quarter, with “continued growth” contributing to the sales increase.

Meanwhile, in hair care, innovation and marketing support on the Pantene and Head & Shoulders brands also helped boost numbers.

In grooming, organic sales grew by 1% due to growth in both the Shave Care and Appliances divisions, which benefited from innovation.

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Overall, P&G is raising its guidance for organic sales growth to a range of 2-3% for fiscal 2017.