USA: Procter & Gamble announces annual results

Procter & Gamble has announced its fiscal year results, showing growth of 1% in organic sales and a decrease of 5% in net sales.

“In fiscal 2015, P&G delivered strong, double-digit constant currency core EPS growth and very good free cash flow productivity of over 100% on modest organic sales growth”, said chairman, president, and chief executive officer AG Lafley. “We made significant productivity gains and have largely executed the reshaping of our business portfolio. […] We expect continued strong cost savings and free cash flow productivity, and we are investing behind product innovation to support an improvement in top-line growth”.

Although net sales decreased 5% to $76.3 billion (including a negative 6% point impact from foreign exchange), the company said sales had shown results generally above the level of the previous year, with growth in sales driven especially by an upturn in Health Care (4%) and Baby, Feminine and Family Care (3%).

Source: Procter & Gamble