P&G boosts share by increasing marketing spend

Procter & Gamble (P&G) claims that its strategy of growing market share across all global markets in on track, despite registering a 6.8% decline in net profit.

The owner of the Ariel, Gillette and Duracell brands says organic sales grew 4% in the three months to 30 September, driven by “broad-based volume and market share growth.”

The company adds that it expects sales to increase again by 3-5% in the current quarter and 4-6% for the full-year.

P&G is pushing to increase market share across the world and has marketed heavily to drive sales and volume increases.

In a statement accompanying the results, the company confirmed that marketing investment grew again in its first quarter to support “product initiatives and build brand equity.”

Bob McDonald, chief executive of P&G, says that its growth strategy, which aims “to touch and improve the lives of more consumers in more parts of the world, more completely” will continue to drive growth.

“While the macroeconomic environment remains challenging, the solid first quarter results demonstrate that our strategy is working,” he says.

Despite the market share and volume gains, net profit slipped to $3.08bn (£1.69bn) in the quarter, hit by higher commodity costs and the sale of its pharmaceutical business last year, which led to an unfavourable comparison.

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