Pricing lifts P&G sales

“Higher shipments and increased pricing” compared with the prior year was cited by Procter & Gamble (P&G) as its Personal Health Care unit posted a “low single-digit” increase in sales in its fourth quarter ended 30 June 2018.

Personal Health Care’s sales had advanced in both the company’s developed markets and developing markets – “at a rate of growth above 1%” – in the three months, P&G said, with turnover also boosted by “strong” results from its now defunct PGT Healthcare OTC joint venture with Teva.

PGT JV terminated

P&G and Teva announced earlier this year that they would terminate PGT on 1 July as the two firm’s priorities were “no longer aligned” (OTC bulletin, 27 April 2018, page 1).

Personal Health Care is part of P&G’s wider Health Care business – along with its Oral Care unit – which reported fourthquarter sales up by 4% to US$1.80 billion (€1.55 billion).

Better Oral Care sales, combined with the improvement at Personal Health Care, left Health Care’s turnover up in three months.

Health Care accounted for 11% of P&G’s total fourth-quarter sales, which moved forward by 3% to US$16.5 billion. On a more negative note, total group pre-tax profits declined by 22% to US$2.29 billion.