THE WHAT? Procter & Gamble has announced its fourth quarter and fiscal year 2021 results. The US FMCG giant saw net sales rise 7 percent in the final three months of the financial year for an overall net sales rise of 7 percent for the year, hitting a total of US$76.1 billion. Organic sales rose 4 percent in the final quarter, and 6 percent over the year.
THE DETAILS The company’s Beauty, Grooming and Health Care units all delivered double-digit net sales growth in the final quarter, up 11 percent, 10 percent and 18 percent respectively. Fabric & Home Care put on a more modest 5 percent while Baby, Feminine & Family Care inched up 1 percent.
P&G said that Skin and Personal Care organic sales increased double digits, primarily driven by innovation, increased pricing and positive mix impact from the disproportionate growth of SK-II brand due to the pandemic-related travel disruptions in the base period. It was a similar story in the Grooming segment.
THE WHY? David Taylor, Chairman, President and CEO, commented, “We delivered another year of strong results with balanced top and bottom-line growth and strong cash generation, exceeding each of our in-going targets. We built strong momentum prior to the pandemic and have strengthened our position further. As we look forward to fiscal 2022, we expect to continue to grow top-line and bottom-line and to deliver another year of strong cash return to shareholders despite a challenging cost and operating environment.”