P&G on track for possible 9% growth for the year

Procter & Gamble, owner of brands such as Pantene, Bold, Gillette and Fairy, reports net sales in the second quarter rose 2% to $21.3bn (£13.3bn).

CEO Bob McDonald says that performance means the company is “on track” to deliver 7 to 9 % growth for the year.

The company enjoyed organic growth of 3% in the three months to the end of December.

P&G says that its market share rose in all geographic regions and the majority of “key countries and brands.”

Health Care net sales increased 2% to $3.1bn (£1.94bn) while organic sales grew 5%. Net sales increased 1% to $5.3bn (£3.32bn) in the Beauty segment, and organic sales grew 3%.

Fabric Care and Home Care net sales were in line with same period in 2009 at $6.3bn (£3.94bn). Organic sales increased 2%.

The company says it invested more in marketing in the quarter. In the UK, P&G was the highest advertising spender with a budget of £195m.

McDonald says: “We are expanding market shares by touching and improving the lives of more consumers in more parts of the world, more completely through our innovation and expansion plans. This is driving strong volume and sales growth ahead of market levels.”

Procter & Gamble estimates net sales growth for January to March to be 5 to 7%. Organic sales are expected to grow 4 to 6%.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here