THE WHAT? Procter & Gamble has published its 2023 Annual Report. The company highlighted that it has delivered another strong year in fiscal 2023, reporting net sales of US$82 billion, up 7 percent in organic terms, while core EPS growth rose 2 percent.
THE DETAILS P&G credited its integrated strategic choices for its success, despite ‘a very difficult operating environment’. Its focused portfolio, superiority across product, packaging and communication, enhanced productivity, ability to adapt and agility have all contributed to growth.
Going forward, the US FMCG giant is focusing on four focus areas to improve execution of its strategy: supply chain, environmental sustainability, digital acumen and employee value equation.
THE WHY? Jon Moeller, Chairman of the Board, President and CEO, commented, “Pre-COVID, during COVID and since COVID, pre-inflation and since inflation, we have delivered consistent, strong top-line growth across categories and geographies, core EPS growth each of the last five fiscal years, and consistent cash return to shareowners.”