US consumer goods company Procter & Gamble reported net sales of $16.9 billion in its Q2 of 2017, matching results from the previous year.
Organic sales increased by 2%, and increased along with organic volume in all business segments.
Diluted net earnings per share rose by 157% on the previous year, at a value of $2.88 per share, increasing by $1.95 per share due to the Beauty Brands divestiture to Coty.
The organic sales for the Beauty segment increased 3% from 2016, behind growth in Hair Care and Skin & Personal Care segments.
The Health Care segment had a healthy increase in organic sales of 7%, due to increased sales in Oral Care and Personal Health Care encouraged by innovation and market growth, P&G said.
“We delivered good results in the second quarter in a difficult operating environment,” said chairman, president and CEO David Taylor.
“Stronger top-line performance in the first half of the fiscal year is enabling us to increase our organic sales growth outlook for the full year - another step towards the levels of balanced top-line, bottom-line, and cash flow growth that will consistently put P&G shareholder value creation among the best in our industry.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. Click subscribe to sign-up for ESM: The European Supermarket Magazine